How much is 9000 worth after 17 years
using an annual interest rate of 8%
compounded annually?
A = B(1 + i)n
where A = accumulated balance
B = opening balance
i = Annually interest rate
and n = number of periods
A = 33,300.16
A = 9000(1.08)17
A = 9000(3.7000180548009)
Interest Earned = Accum. Value - Start Balance
Interest Earned = 33,300.16 - 0.00
Interest Earned = 33,300.16
33300.16