SOLUTION: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 736979: If 15,000 is invested at an interest rate of 11% per year, find the amount of the investment after 5 years for each of the compounding methods
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=15000(1.11)^5
A=15000*1.685
A=$25,275.00