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You inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate of return, compounded annually, how much will you have in 20 years?

You inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate of return, compounded annually, how much will you have in 20 years?
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You inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate of return, compounded annually, how much will you have in 20 years?

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User Nikolin
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7.8k points

1 Answer

7 votes
I think the answer is 19,200
answered
User Chrisofspades
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8.5k points
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