0

Suppose you contribute $20,000 in an account at the end of the year.How much would you have at the end of 20 years if the account pays 8% annual interest.

P Vanchinathan
  • 19,504
mary
  • 9

1 Answers1

1

hint: Using the formula $A = P(1+i)^n, i = \dfrac{r}{n} = \dfrac{0.08}{1} = 0.08, n = 20, P = 20,000$. Can you find $A$?

DeepSea
  • 77,651