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October 21, 2014

October 21, 2014

Posted by **Teresa** on Sunday, September 26, 2010 at 8:40am.

- algebra -
**Henry**, Sunday, September 26, 2010 at 7:08pmSince you didn't say how often it was compounded, i'll assume simple interest.

Pt = Po + r*t*Po,

Pt = Amount after time t (30 years),

Po = Initial investment,

r = annual percentage rate (APR) expressed as a decimal.

Pt = 30000 + 0.03625 * 30 * 30000,

Pt = 30000 + 32625 = 62625.

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