If I put 3400 in my bank account and it has .1 monthly interest how much money will I have in 20 years?
You want to calculate the interest on $3400 at 10% interest per month after 20 year(s). Multiply 20 year(s), by 12, since there's 12 months in 1 year=240. Then multiply 3400 × 0.1 × 240 to get that:The interest is: $81600.00Usually now, the interest is added onto the principal to figure some new amount after 20 year(s),or 3400.00 + 81600.00 = 85000.00.
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by Afred N.
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