SOLUTION: What is the future value of $2000 in a bank account for 9 years at an annual interest rate of 3 percent?
Algebra
->
Finance
-> SOLUTION: What is the future value of $2000 in a bank account for 9 years at an annual interest rate of 3 percent?
Log On
Algebra in Finance
Algebra
Solvers
Solvers
Lessons
Lessons
Answers archive
Answers
Click here to see ALL problems on Finance
Question 596683
:
What is the future value of $2000 in a bank account for 9 years at an annual interest rate of 3 percent?
Answer by
rfer(16322)
(
Show Source
):
You can
put this solution on YOUR website!
FV=2000(1.03)^9
FV=2000*1.3
FV=$2,609.55