Question 146505
P = A (1 + r)^-12 power
THE PROPER FORMULA IS:
P=A(1+R)^T
P=50,000(1+.08)^20
P=50,000(1.08)^20
P=50,000*4.66
P=$233,048 AMOUNT OF INVESTMENT AFTER 20 YEARS @ 8% ANNUAL RATE.