using the compound formula

[logistic_guy]

Use the compound interest formula to find how much \(\displaystyle \$ 5,000\) will grow to in \(\displaystyle 50\) years at \(\displaystyle 8\%\) annual compound interest.

 

[khansaheb]

Use the compound interest formula to find how much \(\displaystyle \$ 5,000\) will grow to in \(\displaystyle 50\) years at \(\displaystyle 8\%\) annual compound interest.

Please show us what you have tried and exactly where you are stuck.

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Please share your work/thoughts about this problem

 

[logistic_guy]

future value \(\displaystyle = 5000(1 + 0.08)^{50} = 234508.06\)

 

[khansaheb]

234508.06

234508.06 - what is the unit? Mangoes, oranges, ......what?