document.write( "Question 550176: What would $8000 be worth if you earned 8% interest. On it for 40 years and never take any out. \n" ); document.write( "

Algebra.Com's Answer #358510 by Edwin McCravy(20086) $\"\"$ $\"About$

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document.write( "If interest is figured n=1 time a year (annually):\r\n" );
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document.write( "A = P(1 + )^nt\r\n" );
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document.write( "A = P(1 + )^1t40\r\n" );
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document.write( "A = $8000(1.08)⁴⁰\r\n" );
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document.write( "A = $173,796.17\r\n" );
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document.write( "if interest is figured 4 times a year (quarterly)\r\n" );
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document.write( "A = P(1 + )^nt\r\n" );
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document.write( "If n = 1\r\n" );
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document.write( "A = P(1 + )^40*4\r\n" );
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document.write( "A = P(1 + .02)¹⁶⁰\r\n" );
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document.write( "A = $190,159.26\r\n" );
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document.write( "Edwin

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