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    ria1960's Avatar
    ria1960 Posts: 1, Reputation: 1
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    #1

    Feb 22, 2014, 04:28 AM
    4,800 invested for 10 years at 9% compounded annually will accumulate to
    No clue
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 22, 2014, 08:37 AM
    Given a present value of PV = 4800, and interest rate i, the future value after N periods of time is:

    FV= PV(1+i)^N

    You need to memorize this equation.

    Here i = 0.09 and N = 10. Now calculate FV.
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