SOLUTION: Stella invested $500 in a special savings account. The balance of this special savings account will triple every 5 years. What will be the balance of Stella's investment at the end

Algebra.Com
Question 1192988: Stella invested $500 in a special savings account. The balance of this special savings account will triple every 5 years. What will be the balance of Stella's investment at the end of 20 years?
Answer by ikleyn(52786)   (Show Source): You can put this solution on YOUR website!
.
Stella invested $500 in a special savings account. The balance of this special savings account will triple every 5 years.
What will be the balance of Stella's investment at the end of 20 years?
~~~~~~~~~~~~~~~~~ 

20 years is four times 5 years.


Therefore, the account will be tripled 4 times, and will get the value of


       = 500*81 = 40500.    ANSWER

Solved and explained.



RELATED QUESTIONS

i need help solving this problem. A person deposited $500 in a savings account that pays (answered by stanbon)
you put 1500 in a simple interest savings account two years later the total account... (answered by josgarithmetic)
Every year after Mary had paid all her additional expenses and treated herself to some... (answered by Glaviolette)
you deposit 1800$ in a special savings account. the account earns interest at an annual... (answered by dfrazzetto)
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by Fombitz)
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by mananth)
. A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by )
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by rfer)
A person deposited $500 in a savings account that pays 5% annual interest that is... (answered by checkley79)