Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover a wealth of knowledge from professionals across various disciplines on our user-friendly Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

You are going to deposit $20,500 today. you will earn an annual rate of 3.9 percent for 14 years, and then earn an annual rate of 3.3 percent for 17 years. how much will you have in your account in 31 years

Sagot :

okpalawalter8

You are going to deposit $20,500 today, what you will have in your account in 31 years is mathematically given as

A=60824.276

What is Compound Interest?

Generally, the equation for Compound Interest is mathematically given as

A=P(1+r/100)^n

Therefore

A=$20500*(1.039)^14*(1.033)^17

A=$20500*2.967038158

A=60824.276

In conclusion, the compound interest

A=60824.276

Read more about compound interest

https://brainly.com/question/22621039

#SPJ1

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.