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

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

User Tom Huibregtse
by
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1 Answer

4 votes
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
User Kujey
by
8.5k points
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