2 years ago

A principal of $2200 is invested at 6.25% interest, compounded annually. How much will the investment be worth after 13 years

Mathematics

2 answers:

trasher [3.6K]2 years ago

7 0

The investment will be worth $4,838.37 after 13 years.

s2008m [1.1K]2 years ago

6 0

Answer:

Let S = Sum after 13 years

So = amount invested

t = time in years

i = annual interest rate = .0325

The S = So(1+i)t = $2,200(1.0325)13 = $3,334.21

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