> What is the final balance for the investment?

What is the final balance for the investment?

What is the final balance for the investment?

Posted at： 2014-12-05　
$20,000 for 3 years at 5% compounded annually

fv = pv * (1 + r/n) ^ (n*t)

fv = 20000 * (1 + .05) ^ 3

fv = $23,152.50

$20,000 for 3 years at 5% compounded annually
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