InvestorQ : what will be the future value if we invest $60 a week for 37 years at 10% annual return ?
dhruv madia made post

what will be the future value if we invest $60 a week for 37 years at 10% annual return ?

Answer
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Purvesh answered.
2 years ago
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As per your query, you want the compound Interest of 60$ in the coming 37 Years.
So as per the Compound Interest formula:
A = P(1+r/n)nt
Here:
A = The future value of your Investment.
P = The principal amount invested by you i.e 60$
R= The annual interest rate i.e 10%
N = The number of times interest is compounded. i.e - annually so it will be considered as 1. If in the case of monthly, it will be taken as 12.
T = The number of years the money is invested.
So, A = 60 ( 1+10%/1)37X1
A = 60 ( 11/10)37
A = 60(1.1)37
A = 60X34.00394
A = 2040.27$
I hope you have got your query resolved.
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