Question

A principal of 2000 is invested at 6% interest, compounded annually. How much will the investment be worth after 13 years?

Answer 1

like the last one, but instead of subtracting you add
\[100\%+6\%=106\%=1.06\]

Answer 2

to do it 13 times in a row, multiply by \((1.06)^{13}\)

Answer 3

you good from there?

Answer 4

4521.80? @satellite73

Answer 5

I don't thnk that's right, is there a easier way to keep track of how many times you multiply? @satellite73