Find an Online Tutor Now

Shaun T.

asked • 08/16/16

I need the formula that answers this question??

I am a stock trader who earns 3% on my account each month.

If I start with an initial investment of 100$, earn 3% growth each month, while also adding an additional 100$ to the account each month, how much would the account be worth in 20 years?

Please, supply the formula you used to reach your answer.

2 Answers By Expert Tutors

By:

Austin S. answered • 08/16/16

Tutor
New to Wyzant

Relaxed, attentive, and flexible tutor willing to help you learn

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.