89 years=> multiplier so it will be to the power of 89. 1.04^89x500 (read as 1.04 to the power of 89 times 500) It will be worth 16403.53 (rounded to 2 decimal places)
It will be worth 457.96
556.34
730.43
572.56
655.40
Because the dollar can be invested today and earn interest
It will be worth 457.96
It will be worth 417.72, approx.
How much would $500 invested at 9% interest compounded annually be worth after 4 years? 705.79
523.97
635.61
635.24
313.37
280.51
661.56
1095.91
267.65