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If you invested $39,000 for 20 years at 7% interest rate how much would you get?

 Jun 25, 2015

Best Answer 

 #2
avatar+118696 
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If it is compounded annually you will get  $150917.69

 

39000×(1+0.07)20=150917.6940369609842462

 

Sorry anon, I did not realize that you have done the same thing :/

 Jun 26, 2015
 #1
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+5

If you are talking about simple interest compounded annually and never take any money out you would wind up with:

39000 x 1.07^20 =  150,917.69

 Jun 25, 2015
 #2
avatar+118696 
+5
Best Answer

If it is compounded annually you will get  $150917.69

 

39000×(1+0.07)20=150917.6940369609842462

 

Sorry anon, I did not realize that you have done the same thing :/

Melody Jun 26, 2015

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