SOLUTION: You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round to the nearest whole number

Algebra ->  Finance -> SOLUTION: You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round to the nearest whole number      Log On


   



Question 1113033: You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round to the nearest whole number.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=1300(1.05)^10
FV=1300(1.629)
FV=2118.00