Question 1193658
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a principal of $38000 is invested at 4.5% interest, compounded annually. how much will the investment be after 14 years ? 
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<pre>
The future value formula

    f = p * (1 + r) ^ n


    f is the future value
    p is the present value (one-time original deposit)
    r is the interest rate per time period as a decimal number
    n is the number of time periods.


In your problem:

    p = 38000
    f = what you want to find
    r = 4.5%  = 0.045 annually
    n = 14 annual periods


Formula becomes f = {{{38000 * (1 + 0.045)^14}}} = {{{38000*1.045^14}}} = 70373.91 dollars.    <U>ANSWER</U>
</pre>

Solved.


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To see many other similar solved problems on compounded interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compound interest percentage problems</A> 

in this site.