Posted by Anonymous on Friday, November 27, 2009 at 11:11pm.
A = P(1.08)^t
where P is the initial investment or "principle"
If t is not an integer number of years, the next lower integer must be used, since interest is only compunded at the end of a year in this example. Some banks and bond transfer agents will credit partial-year interest up to the time of withdrawal, however.
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