SOLUTION: If I invest $20,000 annually for 20 years at an annual interest rate of 8%, how much will the investment be after 20 years?

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Question 481134: If I invest $20,000 annually for 20 years at an annual interest rate of 8%, how much will the investment be after 20 years?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
if you are investing at the end of each year,and your money is compounded annually, then you will have $915,239.286 at the end of the 20th year.
if you are investing at the beginning of each year, and your money is compounded annually, then you will have $988,458.4288 at the end of the 20th year.