Solve the following You have $300 in a bank account earning 8%, how long will it take for this to grow to $1000?Solve the following You have $300 in a bank account earning 8%, how long will it take for this to grow to $1000?

Your mother created a savings account for you when you were born and put $800 into the account, she then forgot about it, you just found the papers for this account on your 25th birthday. The account paid 4% over this entire period. How much would you expect the account to be worth today?