tleng8510 tleng8510
  • 13-07-2017
  • Mathematics
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You deposit $2000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 16-07-2017
The formula is
A=p (1+r)^t
A future value?
P present value 2000
R interest rate 0.06
T time 35 years
A=2,000×(1+0.06)^(35)
A=15,372.17
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