ANna G.

asked • 12d

You’ve been given $25,000 for your 21st birthday! You decide the prudent thing to do is control your inclination to spend it now, and instead you lock it into an investment that will earn you 8% inte

You’ve been given $25,000 for your 21st birthday! You decide the prudent thing to do is control your inclination to spend it now, and instead you lock it into an investment that will earn you 8% interest for ten years, figuring you’ll probably need the money then more than you do now. What will the $25,000 be worth 10 years from now? (Before you answer, though, do you expect the final number to bigger or smaller than $25,000? Why?)

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