Question

How much would $150 invested at 8% interest compounded annually be worth after 13 years?

Answer 1

use the formula

\[ A = P(1 + \frac{r}{100})^n\]

A = future value, P = principal, r = interest rate and n = number of compounding periods.

in you question you need to find A

P = 150, r = 8 and n = 13.

Substitute and the evaluate to get the amount.

Answer 2

can you do the problem.

Answer 3

well I'll do this

\[A = 150 \times(1 + \frac{8}{100})^{13}\]

Answer 4

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Answer 5

here is an online calculator to help
http://web2.0calc.com/