SOLUTION: Find the future value.
$3253 invested for 9 years at 4% compounded annually.
I have tried this and I can't seem to be able to get this correct. Could you please show me how to ge
Algebra.Com
Question 1104362: Find the future value.
$3253 invested for 9 years at 4% compounded annually.
I have tried this and I can't seem to be able to get this correct. Could you please show me how to get to the answer. Thanks
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
4% compounded annually equals (1.04)^y times your money, where y equals the number of years the money is left in the account. So:
future value=3253 x (1.04)^9=3253 x 1.423311812421484544=$4630.03
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