SOLUTION: Use the compound interest formulas A=p(1+r/n)^nt and A=pe^rt to solve.
Find the accumulated value of an investment of $1130 at 8% compounded annually for 14 years.
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-> SOLUTION: Use the compound interest formulas A=p(1+r/n)^nt and A=pe^rt to solve.
Find the accumulated value of an investment of $1130 at 8% compounded annually for 14 years.
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Question 1088399: Use the compound interest formulas A=p(1+r/n)^nt and A=pe^rt to solve.
Find the accumulated value of an investment of $1130 at 8% compounded annually for 14 years. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! The first is A=1130(1+.08)^14; 1.08^14=2.937. Without rounding, multiply by $1130=$3319.03
The second is 1130*e^(0.08*14); e^1.12=3.065, and result is $3463.29
