Rosy deposits $25,000 into an investment account with an annual rate of 3.5% compounded annually. The amount in her account can be determined by the formula A = P(1 + r) t, where P is the amount deposited, r is the annual interest rate, and t is the time taken. If she makes no other deposits or withdrawals, how much money will be in her account at the end of 15 years?

Question

anonymous · Answer

is the answer 41883?

anonymous · Answer

$$25000\times (1.035)^{15}$$ and a calculator

anonymous · Answer

your answer looks good http://www.wolframalpha.com/input/?i=25000%281.035%29^15

anonymous · Answer

ok thx