Future value of $1,000 invested for 20 years at an annual interest rate of 1% equals? ?

Is there a formula for this i tried using excel and i'm not getting any options that are on the multiple choice. don't feel like you need tos olve this i just want an example even with different numbers. the formula you search on google isn't applying either to any answers 

2 Answers

  • 8 months ago

    not much - especially after taxes and inflation. If you want a raw numerical answer use a Future Value function (in Excel, or on a calculator).

    Source(s): lucky guess
  • Anonymous
    8 months ago

    Does the interest compound daily?   Monthly?  Yearly?

    The math is easy, but the question doesn't give specific instruction for how the interest is calculated which may be why you're coming up with an "incorrect" answer. 

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