<-- Start Balance
<-- # of periods
<-- Interest rate
              

Answer
Success!
A = 8,890.83

↓Steps Explained:↓

How much is 2900 worth after 13 years

using an annual interest rate of 9%
compounded annually?

Calculate Accumulated Balance

A = B(1 + i)n
where A = accumulated balance
B = opening balance
i = Annually interest rate
and n = number of periods

Plugging in our values

A = 8,890.83

A = 2900(1.09)13

A = 2900(3.0658046121434)

How much interest was earned?

Interest Earned = Accum. Value - Start Balance

Plug in our values

Interest Earned = 8,890.83 - 0.00

Interest Earned = 8,890.83

8890.83

Final Answer

A = 8,890.83

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