document.write( "Question 1193658: a principal of $38000 is invested at 4.5% interest, compounded annually. how much will the investment be after 14 years ?
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Algebra.Com's Answer #825697 by ikleyn(52908)\"\" \"About 
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\n" ); document.write( "a principal of $38000 is invested at 4.5% interest, compounded annually. how much will the investment be after 14 years ?
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document.write( "The future value formula\r\n" );
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document.write( "    f = p * (1 + r) ^ n\r\n" );
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document.write( "    f is the future value\r\n" );
document.write( "    p is the present value (one-time original deposit)\r\n" );
document.write( "    r is the interest rate per time period as a decimal number\r\n" );
document.write( "    n is the number of time periods.\r\n" );
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document.write( "In your problem:\r\n" );
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document.write( "    p = 38000\r\n" );
document.write( "    f = what you want to find\r\n" );
document.write( "    r = 4.5%  = 0.045 annually\r\n" );
document.write( "    n = 14 annual periods\r\n" );
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document.write( "Formula becomes f = \"38000+%2A+%281+%2B+0.045%29%5E14\" = \"38000%2A1.045%5E14\" = 70373.91 dollars.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems on compounded interest accounts,  look into the lesson\r
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