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Determine the amount of an investment if $250 is invested at an interest rate of 10.3% for 40 years.

 

*I know the formula but I just keep getting it wrong. If you can figure it out THANKS A LOT

 May 23, 2017
 #1
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$14607.78 maybe, I'm not 100% sure tho.

 May 23, 2017
 #2
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Hissssss.... thanks😉

Guest May 23, 2017
 #3
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Did you check the answer under your first posting a day or two ago???  In case you didn't, here it is:

FV = PV x [1 + R]^N

FV = 250 x [1 + 0.103]^40

FV = 250 x     1.103^40

FV = 250 x      50.468512......

FV = $12,617.13

 May 23, 2017
 #4
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Oh okay thanks. I couldn't find my original post. Appreciatesmiley

Guest May 23, 2017

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