SOLUTION: Find the accumulated value of an investment of $1980 at 12% compounded annually for 16 years. a.$5781.60 b.$5544.00 c.$12,138.18 d.$10,837.66

Question 1150102: Find the accumulated value of an investment of $1980 at 12% compounded annually for 16 years.
a.$5781.60
b.$5544.00
c.$12,138.18
d.$10,837.66
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52787)   (Show Source): You can put this solution on YOUR website!
.

= . Use your calculator.

See the lesson
    - Compound interest percentage problems
in this site.

Answer by greenestamps(13200)   (Show Source): You can put this solution on YOUR website!

principal: $1980
annual interest rate: 12% = 0.12
annual growth factor: 1+0.12 = 1.12
number of years: 16

You can do the calculation....

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