1 answer

If you deposit $16000 in a savings account at 12.4% interest per year, how much will...

Question:

If you deposit $16000 in a savings account at 12.4% interest per year, how much will you have in 21 years? (Answer to the nearest dollar)


Answers

FV = PV(1 + r)t

FV = $16000(1 + 0.124)21

FV = $186,300   

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