SOLUTION: How much would $200 invested at 6% interest compounded annually be worth after 5 years ?
Algebra
->
Exponential-and-logarithmic-functions
-> SOLUTION: How much would $200 invested at 6% interest compounded annually be worth after 5 years ?
Log On
Algebra: Exponent and logarithm as functions of power
Section
Solvers
Solvers
Lessons
Lessons
Answers archive
Answers
Click here to see ALL problems on Exponential-and-logarithmic-functions
Question 476745
:
How much would $200 invested at 6% interest compounded annually be worth after 5 years ?
Answer by
checkley79(3341)
(
Show Source
):
You can
put this solution on YOUR website!
P=200(1+.06)^5
P=200*1.06^5
P=200*1.338
P=$267.645 ANS.