Asked by lilly
if i invested $1000.00 at 5% per year for the next 20years how much will i have
Answers
Answered by
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.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.