Percents per Year

Question

I need to know how to solve this problem i can get 1 year and two years easy. I just need help with a formula to find this thanks

Your uncle has an investment scheme. He guarantees that if you invest in the stock of his company, then you'll earn 10% on your money every year. If you invest 100, and your uncle is right, how much will you have after 20 years?

Answer 1

A = p(1 + r/n)^nt, where A = amount, p = principal, r = rate, n = number of calculations per year, t = time

 

A = 100(1.10)²⁰

A ≈ 100(6.7275)

A ≈ 672.75