$1000 USD a year for 30 years. the account earns 13%compounded annually. how much at 30 years?

jim puts %1000 a year at the end of each year into a retirement account for the next 30 years. the account earns 13% interest compounded annually. how much monies will jim have in 30 years? can you do this without a calculator?: ) of course inteligent answers and detailed solutions flip ma wig so go for it.

Answer:
1000*(1.13^30)=39115.898
Yes without calculator, and I love this question

The Rule of 72 of investing, meaning with 13% return, by 72/13~~5.5 is that your money double, in 30 years spanning, your monye double about 6 times

1000/year*30 year==30000(total contribution)
30000*2*2*2*2*2*2=30000*64== 1.92 million
so Your nest would be in between 1.8 million and 2 millions
Not bad huh, as long as you start early huh?
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about 39116 30 yrs.

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