SOLUTION: Alec invested $1500 in an account with annually compounded interest. The account earns 4% annual interest. How much will Alec have in his account after 4 years? Round to the nea

Question 1144950: Alec invested $1500 in an account with annually compounded interest. The account earns 4% annual interest. How much will Alec have in his account after 4 years?
Round to the nearest dollar. Do not round until the final step.
Answer by ikleyn(52792) (Show Source): You can put this solution on YOUR website!
.


Future value =  dollars.


Use your calculator.

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

RELATED QUESTIONS
suppose u invest 1500 dollars in an account paying 4.5% annual interest. Find the account (answered by Fombitz)

Suppose $1000 is invested in an account that earns 7% interest compounded annually. How... (answered by Fombitz)

Suppose $1000 is invested in an account that earns 7% interest compounded annually. How... (answered by Fombitz,solver91311)

A savings account with $2250 has an interest rate of 5%. If the interest is compounded... (answered by rfer)

Lisa deposits $625 in an account that earns 4 percent interest compounded annually. How... (answered by ikleyn,ankor@dixie-net.com)

$1500 is deposited in an account earning 4.5% annual interest. If the money earns simple... (answered by ankor@dixie-net.com)

David deposited $4000 into an account with 4% interest, compounded annually. Assuming... (answered by josgarithmetic)

Amy has $81,000 in a savings account that earns 5% annually. The interest is not... (answered by ikleyn)