SOLUTION: Suppose that $20,000 is invested at 6% interest. Find the amount of money in the account after 10years if the interest is compounded annually.

Question 1199842: Suppose that $20,000 is invested at 6% interest. Find the amount of money in the account after 10years if the interest is compounded annually.
Answer by ikleyn(52797) (Show Source): You can put this solution on YOUR website!
.


    future value =  = .

    Use your calculator.

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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.

Learn the subject from there.

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SOLUTION: Suppose that ​$20,000 is invested at 6​% interest. Find the amount of money in the account after 10years if the interest is compounded annually.