SOLUTION: Arianna invested \$1300$1300 in an account that pays 2.75% interest compounded annually. Assuming no deposits or withdrawals are made, find how much money Arianna would have in the

Algebra ->  Finance -> SOLUTION: Arianna invested \$1300$1300 in an account that pays 2.75% interest compounded annually. Assuming no deposits or withdrawals are made, find how much money Arianna would have in the      Log On


   



Question 1141801: Arianna invested \$1300$1300 in an account that pays 2.75% interest compounded annually. Assuming no deposits or withdrawals are made, find how much money Arianna would have in the account 17 years after her initial investment. Round to the nearest tenth (if necessary).
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
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Future value = 1300%2A%281%2B0.0275%29%5E17 = 2061.74 dollars.