Suppose your friend's parents invest $20,000 in an account paying 5% compounded annually. What will the balance be after 66 years?
4 answers
What is 20000(1.05)^66 ?
500637.911743
is that the answer?
Yes, except since this is money in dollars you would round it to the nearest cent.
$500,637.91
$500,637.91
1 answer