# SOLUTION: What would \$8000 be worth if you earned 8% interest. On it for 40 years and never take any out.

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 Question 550176: What would \$8000 be worth if you earned 8% interest. On it for 40 years and never take any out.Found 2 solutions by stanbon, Edwin McCravy:Answer by stanbon(57424)   (Show Source): You can put this solution on YOUR website!What would \$8000 be worth if you earned 8% interest. On it for 40 years and never take any out. -------------------------- If compounded anually you get: A(40) = 8000(1.08)^40 ---- = 8000*21.72 ---- = \$173,796.17 ====================== Cheers, Stan H. =============== Answer by Edwin McCravy(8924)   (Show Source): You can put this solution on YOUR website!``` If interest is figured n=1 time a year (annually): A = P(1 + )nt A = P(1 + )1t40 A = \$8000(1.08)40 A = \$173,796.17 if interest is figured 4 times a year (quarterly) A = P(1 + )nt If n = 1 A = P(1 + )40*4 A = P(1 + .02)160 A = \$190,159.26 Edwin```