SOLUTION: How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?
Algebra.Com
Question 969515: How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?
Answer by nerdybill(7384) (Show Source): You can put this solution on YOUR website!
How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?
.
Formula:
A = P(1+i)^t
plug in what is given:
A = 400(1+.03)^16
A = 400(1.03)^16
A = 400(1.6047064390987875179380544409792)
A = $641.88
RELATED QUESTIONS
how much would $400 be worth after 16 years if it were invested at 3% interest compounded (answered by Fombitz)
How much would $140 invested at 6% interest compounded annually be worth after 15... (answered by checkley77)
How much would $200 invested at 6% interest compounded annually be worth after 5 years... (answered by checkley79)
How much would $100 invested at 4% interest compounded annually be worth after 7... (answered by FrankM)
How much would $500 invested at 9% interest compounded annually be worth after 4... (answered by Alan3354)
How much would $400 invested at -7% interest compounded continuously be worth after 2... (answered by jim_thompson5910)
If $4,000 is invested at 5% interest, compounded annually, how much will the investment... (answered by lynnlo)
How much would $550 invested at 9% interest componded annually be worth after 8 years ?
(answered by rfer)
How much would $200 invested 7% interest compounded annually be worth after 5 years?... (answered by rfer)