What would be the total value of the investment, in dollars, at the end of 10 years, if $20 was invested at an annual interest rate of 7% , compounded annually? Choose one of the following. 20+10(0.7) 20(1.07)^10 20(1.7)^10 20+(0.7)^10
Added by Izzy R.
Step 1
The formula is: A = P(1 + r/n)^(nt) where: A = the future value of the investment/loan, including interest P = the principal investment amount (the initial deposit or loan amount) r = the annual interest rate (decimal) n = the number of times that interest is Show more…
Show all steps
Close
Your feedback will help us improve your experience
Brian Santivanez and 66 other Algebra 2 educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
How much amount is required to be invested every year so as to accumulate Rs. 300000 at the end of 10 years if interest is compounded annually at 10%?
Jeff H.
Find the value, in 10 years' time, of $\$ 1000$ invested at $8 \%$ interest compounded annually.
Mathematics of Finance
Compound interest
Calculate the present value of an investment that will be worth $$\$ 1,000$$ at the stated interest rate after the stated amount of time. 10 years, at $5 \%$ per year, compounded annually
The Mathematics of Finance
Compound Interest
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD