SOLUTION: If $600 is invested in an account that earns 12.25%, compounded annually, what will the account balance be after 15 years?

SOLUTION: If $600 is invested in an account that earns 12.25%, compounded annually, what will the account balance be after 15 years?

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Question 683890: If $600 is invested in an account that earns 12.25%, compounded annually, what will the account balance be after 15 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=600(1.125)^15
FV=600*5.852
FV=$3511.20
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