you deposit $3800 in an account with an annualinterest of 4.9% for 20 years. Calculate the amount you’ll have atthe end of 20 years.
Expert Answer
Deposit amount = $3800
R = 4.9%
Time = 20 years
Future value of amount after 20 years = 3800*(1+4.9%)^20
Future value of amount after 20 years = $9892,21 or $9892