lupitaperez2345 lupitaperez2345

12-08-2020
Mathematics

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A principal of $2600is invested at 6.75% interest, compounded annually. How much will the investment be worth after 14 years

Respuesta :

machmillerg machmillerg

12-08-2020

Answer:

$6488.19

Step-by-step explanation:

To solve this problem we use the compounded interest formula:

[tex]amount = principal(1 + (r \n))^({n}{t})[/tex]

a = $2600(1+(0.0675/1))¹*¹⁴

a = $6488.19

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