2 years ago

What will be the value in twenty years of $1000 invested at the end of each year for the next twenty years?

1 answer:

3 0

The formula for yearly compound interest is A(1 + r)^t

Where is A = 1000, r = 8%, t = 20

$1000(1 + .08)^{20} = 4660.96$

The answer is $4660.96

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