lagndg
Apr 29, 2009, 07:20 AM
Hello, I just want to know if these answers are correct. I appreciate all the assistance you can give.
To what amount will the following investments accumulate?
1. $5,000 invested for 10 years at 10 percent compounded annually
5,000 x 1.1 ^ 10 = $12,968.27
2. $8,000 invested for 7 years at 8 percent compounded annually
8,000 x 1.08 ^ 7 = $13,710.60
3. $775 invested for 12 years at 12 percent compounded annually
775 x 1.12 ^ 12 = $3,019.40
4. $21,000 invested for 5 years at 5 percent compounded annually
21,000 x 1.05 ^ 5 = $26,801.90
To what amount will the following investments accumulate?
1. $5,000 invested for 10 years at 10 percent compounded annually
5,000 x 1.1 ^ 10 = $12,968.27
2. $8,000 invested for 7 years at 8 percent compounded annually
8,000 x 1.08 ^ 7 = $13,710.60
3. $775 invested for 12 years at 12 percent compounded annually
775 x 1.12 ^ 12 = $3,019.40
4. $21,000 invested for 5 years at 5 percent compounded annually
21,000 x 1.05 ^ 5 = $26,801.90