SOLUTION: if you invested $250 at 16% interest how much will you have after 18 years?
Algebra.Com
Question 710201: if you invested $250 at 16% interest how much will you have after 18 years?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
if you invested $250 at 16% interest how much will you have after 18 years?
-----------------
If it's simple interest, you'll have $250*0.16*18 = $720
------------
If it's compount interest, which is likely, it varies with the compounding period.
---
Compounded annually it's $250*(1.16)^18 = $3615.63
Compounded quarterly it's $250*(1.04)^72 = $4210.57
Compounded continuously it's $250*e^0.16*18 = $ 4453.68
RELATED QUESTIONS
dash invested $10,000 at 3% interest compounded continuously. how much will he have after (answered by ikleyn)
how much money has to be invested at 2.9% interest compounded continuously to have $34000 (answered by lwsshak3)
If $5000 is invested at 7.8% interest compound monthly, how much would you have after 54 (answered by rfer,Edwin McCravy)
You inveast 17,000 at 4.5% interest, compounded monthly. How much money will you have... (answered by jim_thompson5910)
Use formulas: S = P*(1+r/12^12t-1) / (r/12)
S stands for the accumulated savings when... (answered by Paul)
if you invest 5000 in an account which pays 6% p.a interest, how much will you have after (answered by harpazo)
If you invested $5000 in a small business and the investment doubled every 4 years how... (answered by Fombitz)
how much would $400 be worth after 16 years if it were invested at 3% interest compounded (answered by Fombitz)
How much would $400 be worth after 16 years, if it were invested at 3% interest... (answered by nerdybill)