SOLUTION: Find the accumulated value of an investment of $1980 at 12% compounded annually for 16 years. a.$5781.60 b.$5544.00 c.$12,138.18 d.$10,837.66

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: Find the accumulated value of an investment of $1980 at 12% compounded annually for 16 years. a.$5781.60 b.$5544.00 c.$12,138.18 d.$10,837.66      Log On


   

Question 1150102: Find the accumulated value of an investment of $1980 at 12% compounded annually for 16 years.
a.$5781.60
b.$5544.00
c.$12,138.18
d.$10,837.66
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52787) About Me  (Show Source):
You can put this solution on YOUR website!
.

1980%2A%281%2B0.12%29%5E16 = 1980%2A1.12%5E16.


Use your calculator.

See the lesson
    - Compound interest percentage problems
in this site.


Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


principal: $1980
annual interest rate: 12% = 0.12
annual growth factor: 1+0.12 = 1.12
number of years: 16

1980%2A%281.12%29%5E16

You can do the calculation....