An investment grows by 8% per year for 10 years. by what percent does it increase over the 10-year period?
Mathematics · High School · Tue Nov 03 2020
Answered on
Given the statement:
An investment grows by 8% per year for 10 years.
Determine by what percentage does it grows after 10 years.
Solution:
In order to determine the percentage of its growth after 10 years, then we simply multiply 8% by 10. We do not need to convert the percentage into decimal since the value would still be the same.
= (8%)(10)
= 80%
Final answer:
The investment will grow 80% after 10 years.