If you invest $100 at an interest rate of 15 percent, how much will you have at the end of 8 years?

Answer 1

Imagine what a beautiful world it would be though if charris was right :)

If you're wondering how brkshandilya got the answer by the way...

for Principle interest it was $100 x (1 + (.15 x 8))

for Compound interest it was $100 x (1.15) ^ 8

It's better to learn how than merely to get an answer.

Answer 2

The formula is principle times rate times time
That is 100 times 15% times 8 years
Which is 12,000.00

Answer 3

With simple rate of interest ,total amount would be $220 and with compound rate of interest,it would be $305.90.Next time,I wouldn't help in your home work.(Note:- answer given by Chariss2 above is wrong.)