Question
if i invested $1000.00 at 5% per year for the next 20years how much will i have
Answers
Henry
Since there was no compounding frequency given, i'll assume simple interest.
Pt = Po + r*t*Po,
r = APR = 5% = 0.05,
t = 20 years = time to mature,
Pt = 1000 + 0.05 * 20 * 1000,
Pt = 1000 + 1000 = 2000 @ 20 years.
Pt = Po + r*t*Po,
r = APR = 5% = 0.05,
t = 20 years = time to mature,
Pt = 1000 + 0.05 * 20 * 1000,
Pt = 1000 + 1000 = 2000 @ 20 years.