Finance

[redhorse]

you deposit $1000.00 today in a savings account that pays 3.5% interest, compounded annually. How much will your account be worth at the end of 25 years?
a. 2,245.08
b. 2,363.24
c. 2,481.41
d. 2,605.48
e. 2,735.75

 

[wjm11]

You can find the formula and examples at many sites. Here is one:

http://qrc.depaul.edu/StudyGuide2009/No ... terest.htm