To what amount will $4,800 invested for 9 years at 11 percent compounded annually accumulate? $4,800...
To what amount will
$4,800
invested for 9
years at
11
percent compounded annually accumulate?
$4,800
invested for
9
years at
11
percent compounded annually will accumulate to
$nothing.
(Round to the nearest cent.)
Homework Answers
FV = Amount Invested * [1 + r]n
= $4,800 * [1 + 0.11]9
= $4,800 * 2.5580 = $12,278.58
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