Question
What is the future value of $800 invested for 14 years at 11 percent compounded annually
Answers
Henry
P = Po(1+r)^n.
r = 11%//100% = 0.11 = Annual % rate expressed as a decimal.
n = 1comp./yr. * 14yrs.=14Compounding
periods.
Plug the above values into the given Eq and solve for P.
r = 11%//100% = 0.11 = Annual % rate expressed as a decimal.
n = 1comp./yr. * 14yrs.=14Compounding
periods.
Plug the above values into the given Eq and solve for P.