SOLUTION: A principal of $4200 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 9 years?
Use the calculator provided and round your answer to
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Question 1030501: A principal of $4200 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 9 years?
Use the calculator provided and round your answer to the nearest dollar.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A principal of $4200 is invested at 8.5% interest, compounded annually. How much will the investment be worth after 9 years?
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A(t) = P(1+(r/n))^(n*t)
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A(9) = 4200(1.085)^9 = $8752.19
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Cheers,
Stan H.
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