SOLUTION: suppose that $40,000 is invested at 9% interest, find the amount of money in the account after two years if the interest is compounded annually?

SOLUTION: suppose that $40,000 is invested at 9% interest, find the amount of money in the account after two years if the interest is compounded annually?

Algebra.Com

Question 806070: suppose that $40,000 is invested at 9% interest, find the amount of money in the account after two years if the interest is compounded annually?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=40000(1.09)^2
FV=40000(1.1881)
FV=$47524.00
RELATED QUESTIONS
Suppose that $60,000 is invested at 9% interest. Find the amount of money in the account (answered by mananth)

Suppose that $80000 is invested at 9% interest per year. Find the amount of money in the... (answered by lynnlo)

Suppose that $50,000 is invested at 9% interest. Find the amount of money in the account... (answered by ikleyn)

Suppose that $20,000 is invested at 6% interest. Find the amount of money in the... (answered by ikleyn)

suppose that $10,000 is invested at 7% interest. find the amount of money in the account... (answered by rfer)

Suppose that $40000 is invested at 9% interest. Find the amount of money in the account... (answered by nerdybill)

suppose that 5000 is invested at 3.5 interest, compounded quarterly find the money in the (answered by nerdybill)

Hi, I have $30,000 invested at 7% interest. Find the amount of money in the account... (answered by rfer)

Suppose you invest money in two accounts. One of the accounts pay 9 % annual... (answered by ankor@dixie-net.com)