Question

5,000 is invested at an interest rate of 8% compounded annually. how much is the investment return after 20 years?​

Answer 1

Step-by-step explanation:

5k×8×20

_______ =800

100

Answer 2

Answer:

≈ 23305

Step-by-step explanation:

The amount A is calculated as

A = P $(1+r)^{t}$

P is the principal

r is the interest rate

t is the time in years

A = 5000 $(1+0.08)^{20}$

   = 5000 $(1.08)^{20}$

   ≈ 23305 ( to the nearest whole number )