What would be the value of $150 after eight years if you earn 12 percent interest per year?

Question

asked Feb 2, 2017 140k views

2 Answers

Shabbir Reshamwala · Answer 1 · 2017-02-06T09:56:23+0000

Every year $150 gains 12%, so every year you multiplythe value $150 times 1.12. So, after eight years the value will be: $150 * 1.12 * 1.12 * 1.12 * 1.12 * 1.12 * 1.12 * 1.12 * 1.12 = $150 * (1.12)^8 = $ 371.39. Answer: $ 371. 39

What would be the value of $150 after eight years if you earn 12 percent interest per year?

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

Please log in or register to add a comment.

Please log in or register to add a comment.

No related questions found

Categories

Other Questions