SOLUTION: Lynsey invests $3000 in a bond trust that pays 8% interested compounded semiannually. Her friend Lyla invest $3000 in a certified of deposit that pays 7.75% compounded daily. How m
Algebra.Com
Question 1129810: Lynsey invests $3000 in a bond trust that pays 8% interested compounded semiannually. Her friend Lyla invest $3000 in a certified of deposit that pays 7.75% compounded daily. How much money does each of them have after 20 years?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Lyndsey
Lyla
----------------------------------------------
Lyndsey:
After 20 yrs, she has $14,403.06
------------------------------------
Lyla:
After 20 yrs, she has $14,132.21
check my math
RELATED QUESTIONS
Trish invests $5000 in her IRA in a bond trust that pays 7% interest... (answered by Boreal)
$600 in a bond that pays 11% interest compounded semiannually. How much money will there... (answered by ewatrrr)
if i deposit $3000 in a bank account that pays 2% interest, compounded monthly.what is... (answered by Cromlix)
You deposit 3000 in an account that pays 7% interest compunded semiannually
After 4... (answered by Theo)
Suppose you invest $3000 in an account that pays 5.9% interest compounded continuously;... (answered by vleith)
A Childs grandparents purchase a $16,000 bond that matures in 16 years to be used for her (answered by checkley71)
You deposit $3000 in an account that pays 7% interest compounded semiannually. After ten... (answered by lwsshak3)
margaret fennell won a prize for her work. she invested part of the money in a... (answered by hamsanash1981@gmail.com)
Roopa Patel won a prize for her work. She invested part of the money in a certificate of... (answered by checkley77)