Homework Help: interest

Posted by Anonymous on Sunday, July 24, 2011 at 10:06pm.

If $635 is invested in an account that earns 9.25%, compounded annually, what will the account balance be after 21 years?

interest - Writeacher, Sunday, July 24, 2011 at 10:09pm
http://www.moneychimp.com/articles/finworks/fmfutval.htm

The formula is here.
interest - Reiny, Sunday, July 24, 2011 at 11:17pm
amount = 635(1.0925)^21 = .....

you do the button-pushing.

Answer this Question

Related Questions

math - If $690 is invested in an account that earns 20.75%, compounded annually...
math - If $690 is invested in an account that earns 20.75%, compounded annually...
algebra - If $1000 is invested in an account that earns 11.75%, compounded ...
STRAYER - If $795 is invested in an account that earns 11.75%, compounded ...
Math - Suppose Kevin and Jill both deposit $4000 into their personal accounts. ...
ALGEBRA - If $695 is invested in an account that earns 21.75%, compounded ...
Simple & Compounding Interest - Suppose Kevin and Jill both deposit $4000 ...
ALGEBRA - If $695 is invested in an account that earns 21.75%, compounded ...
Simple & Compounding Interest - I am SO STUCK on this problem... PLEASE HELP...
ALGEBRA - If $540 is invested in an account that earns 19.75%, compounded ...

For Further Reading

First Name:
School Subject:
Answer: