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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Supposed that we are given the equation:
7.20 x 10^-5 = x(0.100+x)^2
So assuming that x is very small so that:
0.100 + x ~ 0.100
and calling it x1, so:
7.20 x 10^-5 = x1 (0.100)^2
Then we simply solve for x1:
x1 = 7.20 x 10^-5 / (0.100)^2
<span>x1 = 7.20 x 10^-3</span>
Answer:
Yes, in places like the US, UK and other bigger areas
No, in like Africa and poorer areas
