Question

You invest 20,000 at 7.5% for 48 years, How much will it be wroth at the end of 48 years?

Answer 1

FV = PV x (1 + r)^n

FV = 20,000 x (1 + 0.075)^48

FV = 20,000 x 48.155

FV = 963,100

Therefore, the investment will be worth approximately $963,100 at the end of 48 years.