Course Solutions Uncategorized Deposit 3800 Account Annual Interest 49 20 Years Calculate Amount Ll End 20 Years Q34191349

Deposit 3800 Account Annual Interest 49 20 Years Calculate Amount Ll End 20 Years Q34191349

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

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