SOLUTION: You make a one-time deposit of $1200 into an account earning 10% interest compounded annually. How much will you have in the account in 20 years? Round to the nearest cent.

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Question 1154624: You make a one-time deposit of $1200 into an account earning 10% interest compounded annually. How much will you have in the account in 20 years? Round to the nearest cent.

Answer by ikleyn(52824) About Me  (Show Source):
You can put this solution on YOUR website!
.

Future value = 1200%2A%281%2B0.10%29%5E20 = 1200%2A1.1%5E20.


Use your calculator.

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    - Compound interest percentage problems
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