Suppose your parents invest $25,000 in an account paying 7% compounded annually. What will be the balance after 8 years?

Abhishek AN asked Feb 15, 2022

506,393 views

29 votes

Abhishek AN asked Feb 15, 2022

2.9k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

14 votes

$25,000 x 7% = 1,750 in one year.
$1,750 x 8 years = $14,000

Syska answered Feb 20, 2022

by Syska

3.1k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers