If I put $3000. in bank account 32 years ago what would be in that account today.?
- CliveLv 78 months ago
$3000, unless the account pays interest.
- 8 months ago
The amount depends on the interest rate and terms of the account, simple or compound interest.
- STEVEN FLv 78 months ago
NOTHING. The account would have been turned over to the state for inactivity about 20 years ago.
If you can show you are the legal owner, the state will return whatever the balance was at that time.
As you didn't even HINT at any interest or fees, we can only GUESS if the amount is more or less than $3000.
- SumDudeLv 78 months ago
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- Anonymous8 months ago
STOP ASKING THE SAME QUESTION TROLL.
- martinLv 78 months ago
You have to know the bank's interest rate for each of those 32 years, and remember to add interest onto interest earned, called compounding interest.
- Bill-MLv 78 months ago
To Figure out the answer to your question there are THREE values that are required.
The initial investment which in your case is $3000. The Period which is 32 Years and the bit you left out. The INTEREST RATE and how it is compounded.
Interest Rates vary over the years. So lets say for example 32 years ago the interest was at a Fixed Rate of 8 percent Which is much higher then today.
$3000 at 8% for 32 years Compounded Monthly you would have: $ 38,479.16
This is the Compound Interest formula.
- baby Ey (MeMe)Lv 78 months ago
probably like $4500. at present interest rates? <$3000 after inflation adjustment.