SOLUTION: How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?

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Question 969515: How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
How much would $400 be worth after 16 years, if it were invested at 3% interest compounded annually?
.
Formula:
A = P(1+i)^t
plug in what is given:
A = 400(1+.03)^16
A = 400(1.03)^16
A = 400(1.6047064390987875179380544409792)
A = $641.88