document.write( "Question 834428: The formula P(1+r) n to the power gives the balance of a bank account in which P dollars were deposited and left and n years at a compound interest rate of r.Suppose you deposited $5000 into an account and left it there for 20 years at a compound interest rate of 9.5%, or 0.095.What would the balance be after 20 years? \n" ); document.write( "

Algebra.Com's Answer #503076 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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The formula P(1+r) n to the power gives the balance of a bank account in which P dollars were deposited and left and n years at a compound interest rate of r.Suppose you deposited $5000 into an account and left it there for 20 years at a compound interest rate of 9.5%, or 0.095.What would the balance be after 20 years?
\n" ); document.write( ":
\n" ); document.write( "Compounded annually
\n" ); document.write( "A = 5000(1.095^20)
\n" ); document.write( "A = $30,708.06 \n" ); document.write( "

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