Question

If $500 is invested at an annual interest rate of 8% per year, its future worth at the end of 30 years will be most nearly:

(A) $1,200
(B) $1,700
(C) $5,031
(D) $15,000

Answer 1

The interest over 30 years would be 1,200. Therefore you add that to the 500$ you started with. The answer is B) $1,700.