An investment grows by 8% per year for 10 years. by what percent does it increase over the 10-year period?

In order to find the percent increase over the 10-year period, we will use below formula

In this formula r represents the rate in decimal, and n represents the time.

From the given directions, we have

r= 0.08, n=10

On substituting these values in the above mentioned formula, we get

Therefore, it will increase by 115.9% over a 10 years period.

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