SOLUTION: How much money would I have after 50 years if I put in $50 with a 6% interest per year?

Question 220361: How much money would I have after 50 years if I put in $50 with a 6% interest per year?
Found 2 solutions by rfer, jim_thompson5910:
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=50(1+.06)^50
A=50(18.42)
A=$921.00
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I'm assuming that you're using simple interest.

Start with the simple interest formula.

Plug in (the investment), (the decimal equivalent of 6%), and .

Multiply and to get .

Multiply and to get .

Add to to get .

So if you invest $50 at an interest rate of 6%, you'll have $200 in the account after 50 years.

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