SOLUTION: To what amount will $4,900 invested for 8 years at 11% compounded annually will accumulate? I have the right formula: A=$4900(1+.11)^8 but I did it and my answer still came out wro

Question 806687: To what amount will $4,900 invested for 8 years at 11% compounded annually will accumulate? I have the right formula: A=$4900(1+.11)^8 but I did it and my answer still came out wrong.
Found 2 solutions by rfer, MARIO OWHOLO:
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=4900(1.11)^8
FV=4900(2.3)
FV=$11270.00
How does that look to you?
Answer by MARIO OWHOLO(4) (Show Source): You can put this solution on YOUR website!
You were almost close to the right answer but you should found the amount of $1 at 11% for 8yrs nd then multiply by $4,900
Solution
Using A=(1+interest)^n
Amount of $1 =(1+0.11)^8yrs
A=2.30453777
Therefore..2.30453777*4,900
Amount of investment will be 11,292
= $112.9
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