SOLUTION: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in the account in 15 years?

SOLUTION: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in the account in 15 years?

Algebra.Com

Question 956726: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in the account in 15 years?

Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
P(1+R)^T
500(1+.04)^15
500(1.04)^15
500*1.8=$900.47 ans.
RELATED QUESTIONS
You deposit $1000 at the end of each year into an account earning 4% interest compounded... (answered by ikleyn)

You deposit $3000 at the beginning of each year into an account earning 6% interest... (answered by ikleyn)

You deposit $5000 each year into an account earning 2% interest compounded annually. How (answered by ikleyn)

You deposit $4000 each year into an account earning 4% interest compounded annually. How... (answered by ikleyn,solver91311)

You deposit $4000 each year into an account earning 4% interest compounded annually. How... (answered by ikleyn)

You deposit $5000 each year into an account earning 4% interest compounded annually. How... (answered by ikleyn)

You deposit $450 in an account earning 3% interest compounded annually. How much will (answered by checkley79)

You deposit $5000 at the beginning of each year into an account earning 7% interest... (answered by ikleyn)

You deposit $3000 at the beginning of each year into an account earning 6% interest... (answered by ikleyn)