SOLUTION: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.
Principal: $11,000
Rate: 5%
Compounded: annually
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Question 1176677: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.
Principal: $11,000
Rate: 5%
Compounded: annually
Time: 3 years
Find how much money there will be in the account after the given number of years.
A. The amount of money in the account after 3 years is ​$__.
​(Round to the nearest hundredth as​ needed.)
Answer by Solver92311(821) (Show Source): You can put this solution on YOUR website!
A principal value, 
, invested at 
per annum compounded 
times per year for 
years has a future value, 
, of
^{nt})
John
My calculator said it, I believe it, that settles it
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