How do you solve this word problem?

Carlos is planning to invest $1800 in an investment account. His investment could pay him 20% interest compounded annuallyu. He will invest his money in 2000. He wants to leave the money in the the investment for at least 5 years. Fill in the table.



Year of Investment: Amount in Account:

2000

2001

2002

2003

2004



I need help with the rest. Thanks (:How do you solve this word problem?
FV = $1800(1+0.2)^t



Year of Investment: Amount in Account:

end of the year amount:

2000 : $2160

2001 : $2592

2002 : $3110.40

2003 : $3732.48

2004 : $4478.98How do you solve this word problem?
compound interest = added on to value already there.

so add 20% to the money, or 0.2 in decimal



2000: 1800

2001: 1800 * 1.2

2002: money in 2001 * 1.2



... and so on