You invest $2,500 today at an interest rate of 20% compounded annually.How much will you accumulate after 35 years?
A) $1,476,670.57
B) $1,230,558.81
C) $1,506,203.98
D) $1,772,004.69
E) $1,974,367.39

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc28_8248_a768_9f322e6fb79b_TB2902_00 FV = 2,500 × 11ea7fdb_fc28_8249_a768_bd92cc8b2dd6_TB2902_00 = $1,476,670.57
Using a financial calculator:
N = 35, I/Y = 20, PV = -2,500, PMT = 0, cpt FV = $1,476,670.57

You Invest $2,500 Today at an Interest Rate of 20