Suppose that on January 1, 1899, one of your ancestors invested $41 compounded annually at 4.5%. If this money were left to you, how much would you have had on January 1, 2002?

Question

Suppose that on January 1, 1899, one of your ancestors invested $41 compounded annually at 4.5%. If this money were left to you, how much would you have had on January 1, 2002?
1) $192
2) $3,817
3) $190
4) $3,989***
Please help me i believe it is 4 but i need clarifacation and need to know if this is correct

R_Scott · Answer

103 yrs x = 41 (1 + .045)^103

justtryingtopassalgabraman · Answer

wow 117 people saw this and did not know the anwser 😫 its ok ill just fail algabra.