Homework Help: Math

Posted by Lisa on Wednesday, June 8, 2011 at 4:27pm.

An initial investment of $1000 is appreciated for 8 years in an account that earns 9% interest, compounded annually. Find the amount of money in the account at the end of the period

Math - Mgraph, Wednesday, June 8, 2011 at 5:46pm
The accumulation value at the end of nth
period A=P(1+i)^n

A=1000*1.09^8=1,992.56
Math - Rodney, Sunday, February 5, 2012 at 1:19am
992.56

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