SOLUTION: suppose that $40,000 is invested at 9% interest, find the amount of money in the account after two years if the interest is compounded annually?

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Question 806070: suppose that $40,000 is invested at 9% interest, find the amount of money in the account after two years if the interest is compounded annually?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=40000(1.09)^2
FV=40000(1.1881)
FV=$47524.00