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A principal of $3800 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 12 years?

A principal of $3800 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 12 years?
asked 97.8k views
2 votes
A principal of $3800 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 12 years?

asked
User ATLUS
by
8.3k points

1 Answer

5 votes

Answer: $10,114.41

Explanation:

A = P(1 + r/n)^nt

answered
User Joe Sloan
by
8.5k points
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