You first start by converting 8.5 to a decimal by dividing by 100 like this:
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Here's how much investing $1,000 a month will net you by the time you're ready to retire — and yes, you can be a millionaire if you get the timing rightSave $1 Million Dollars in 10 Years By Doing ThisFuture Value Calculator [with FV Formula]What will Rs. 5000 amount to in 10 years, compounded annually at 10 %Then you multiply 0.085 by 1,000 like this:
But we need to multiply 85 by 6 year which give us: 510.
We now add 1,000 and 510 together which gives us 1,510.
