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A principal of $2000 is invested at 5.25% interest, compounded annually. how much will the investment be worth after 11 years? use the calculator provided and round your answer …

A principal of $2000 is invested at 5.25% interest, compounded annually. how much will the investment be worth after 11 years? use the calculator provided and round your answer …
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A principal of $2000 is invested at 5.25% interest, compounded annually. how much will the investment be worth after 11 years? use the calculator provided and round your answer to the nearest dollar

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User Lidor Avitan
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8.5k points

1 Answer

7 votes
Compound interest growth formula:
A=P x (1+r/100)^t
A is the end amount
P is the initial (principal) amount
r is the rate
t is the time in years
2000 x 1.0525^11= $3511
answered
User Kellye
by
7.5k points
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