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How much money will you have if you started with 1250 and put it in an account that earned 6.7% every year for 14 years.

 Jun 6, 2015

Best Answer 

 #1
avatar+14538 
+5

Ko = 1250      ;  p = 6,7 %    =>  (1+p/100) = 1.067    ;  n = 14 years

Kn = Ko * (1+p/100)^n

Kn  =   $${\mathtt{1\,250}}{\mathtt{\,\times\,}}{{\mathtt{1.067}}}^{{\mathtt{14}}} = {\mathtt{3\,098.930\: \!846\: \!534\: \!603\: \!612\: \!2}}$$    =>  3 098,93

 Jun 6, 2015
 #1
avatar+14538 
+5
Best Answer

Ko = 1250      ;  p = 6,7 %    =>  (1+p/100) = 1.067    ;  n = 14 years

Kn = Ko * (1+p/100)^n

Kn  =   $${\mathtt{1\,250}}{\mathtt{\,\times\,}}{{\mathtt{1.067}}}^{{\mathtt{14}}} = {\mathtt{3\,098.930\: \!846\: \!534\: \!603\: \!612\: \!2}}$$    =>  3 098,93

radix Jun 6, 2015

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