SOLUTION: A teacher invested 10,000 in a bond fund that should have an average annual return of 6% per year for the next 20 years. What will be the amount of the investment in 20 years?
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Question 238595: A teacher invested 10,000 in a bond fund that should have an average annual return of 6% per year for the next 20 years. What will be the amount of the investment in 20 years?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
10,000(1+.06)^20
10,000*1.06^20
10,000*3.207135=$32,071.35 ans.
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