what is 6% p.a over 10 years

Question

0

1497

1

Guest Feb 13, 2015

+118667

+5

Best Answer

compounding yearly it is

1(1.06)^10

$${{\mathtt{1.06}}}^{{\mathtt{10}}} = {\mathtt{1.790\: \!847\: \!696\: \!542\: \!853\: \!6}}$$

so $1 will grow to $1.79

that is a 79% increase in value :))

Melody Feb 13, 2015

Melody · Answer 1 · 2015-02-13T04:46:36

compounding yearly it is

1(1.06)^10

$${{\mathtt{1.06}}}^{{\mathtt{10}}} = {\mathtt{1.790\: \!847\: \!696\: \!542\: \!853\: \!6}}$$

so $1 will grow to $1.79

that is a 79% increase in value :))