SOLUTION: What is the future value, to the nearest hundredth of a dollar, if $4600.00 is invested for 12 years at 9.6%/year compounded annually?

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Question 915663: What is the future value, to the nearest hundredth of a dollar, if $4600.00 is invested for 12 years at 9.6%/year compounded annually?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+P%2A%281%2Br%2Fn%29%5E%28n%2At%29

A+=+4600%2A%281%2B0.096%2F1%29%5E%281%2A12%29

A+=+4600%2A%281%2B0.096%29%5E%2812%29

A+=+4600%2A%281.096%29%5E%2812%29

A+=+4600%2A%283.00418483702393%29

A+=+13819.25025031

A+=+13819.25


The future value is $13,819.25


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Thanks,

Jim