How much would $140 invested at 6% interest compounded annually be worth after 15 years? Round your answer to the nearest cent.

Question

zugzwang · Answer

You know the formula for compound interest?

zugzwang · Answer

It's
$$k \left( 1+i \right)^{t}$$
Where k is the initial investment
i is the rate of interest
t is how many time periods pass (in this case, years)

anonymous · Answer

alright so it would be 140(1+.06)^15 which would be 335.52 right

anonymous · Answer

thank you it got me the right answer ad now i know how to do those problems :)

zugzwang · Answer

That seems about right :)