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14 September, 18:28

A principal of $2000 is invested at 5.25% interest, compounded annually. how much will the investment be worth after 11 years? use the calculator provided and round your answer to the nearest dollar

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  1. 14 September, 21:00
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    Compound interest growth formula:

    A=P x (1+r/100) ^t

    A is the end amount

    P is the initial (principal) amount

    r is the rate

    t is the time in years

    2000 x 1.0525^11 = $3511
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