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- Thread starter linapril
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The formula for calculating the future value of an investment having an annual nominal interest rate is:

$\displaystyle A=P\left(1+\frac{r}{n} \right)^{nt}$

where:

*A*= future value*P*= principal amount (initial investment)*r*= annual nominal interest rate (as a decimal, not in percentage)*n*= number of times the interest is compounded per year*t*= number of years

In your case