Jill invests $20000 in an account that earned 5.5% annual interest, compounded annually. What is the value of this account after 10 years?

The value of this account in 10 years is given by the formula:

FV = P*(1+r)^t

where FV is the future value in the account after 10 years(to be calculated)

P is the principal invested at the beginning

r is the interest rate and

t is the time horizon in years

Given, Invested Amount (P) = 20,000

Interest rate (r) = 5.5% = 0.055

Time horizon (t) = 10 years = 10

Substituting the formula, FV = 20,000*(1+0.055)^10 = 20,000*1.055^10 = 20,000*1.708144458 =  34,162.89

The value of this account after 10 years =$34,162.89 (Rounded to the nearest cent)

Step-by-step explanation:

step-by-step explanation:

here's what happens:

1) the graph of f   = x^2 is shifted 2 units to the right.

2) the resulting graph is reflected in the x-axis, so that the parabola now opens down.

3) this final result is transformed up by 5 units.