600,000 u just have to multiply it by 10
The one time investment of $1000 would worth $10285.72 after 40 years at 6% rate of return
What is annual compounding?
Annual compounding means that the number of times interest is compounded annually is once, compared to semiannual compounding where the interest on the investment is calculated twice a year.
The worth of the investment after 40 years means its future value after having invested $1000 for 40 years using the below formula for future value of a single cash flow:
FV=PV*(1+r)^N
FV=future worth of investment=unknown
PV=initial investment=$1000
r=rate of return=6%
N=number of years of investment=40
FV=$1000*(1+6%)^40
FV=$1000*1.06^40
FV=$1000* 10.2857179371259
FV=$10285.72
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The lengths of sides of a triangle have to satisfy the triangle inequality, which states that the sum of the two shorter sides must exceed the length of the third side.
Here 9+8=17 (not greater), so these segments do not form a triangle.
Answer:
Compound interest
Step-by-step explanation:
Compound interest is a type of interest that is earned on both the principal plus any previous interest earned.
This ultimately implies that, the interest are compounded either on a daily, weekly, quarterly, monthly or annual basis.
Mathematically, compound interest is given by the formula;
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.