If you make a one-time investment of $500 at 8% interest compounded annually, how much money will you have in 20 years? 50 years?

The formula for annually compounded interest is as follows:

P is the initial amount you invest, r is the interest rate as a decimal, and t is the number of years the money will have been invested.

Convert the 8% interest rate into a decimal by dividing by 100:

We now have all of our values. Plug the known values into the equation:

answer; human resource management.(hrm);

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