SOLUTION: Find the value, in 10 years� time, of $1000 invested at 8% interest compounded annually.

Question 1072573: Find the value, in 10 years� time, of $1000 invested at 8% interest compounded annually.
Found 2 solutions by Boreal, MathTherapy:
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
P=10000(1+.08)^10=$21589.25. It doubles and then some because the rule of 72 says it would double in 9 years, and this is 10 years. Don't round until the last step.
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!

Find the value, in 10 years� time, of $1000 invested at 8% interest compounded annually.

Correct answer:
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