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

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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) About Me  (Show Source):
You can put this solution on YOUR website!
+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+
Lyndsey
+A+=+3000%2A%28+1+%2B+.08%2F2+%29%5E%282%2A20%29+
Lyla
+A+=+3000%2A%28+1+%2B+.0775%2F365+%29%5E%28365%2A20%29+
----------------------------------------------
Lyndsey:
+A+=+3000%2A%28+1+%2B+.04+%29%5E40+
+A+=+3000%2A1.04%5E40+
+A+=+3000%2A4.80102+
+A+=+14403.06+
After 20 yrs, she has $14,403.06
------------------------------------
Lyla:
+A+=+3000%2A%28+1+%2B+.00021233+%29%5E7300+
+A+=+3000%2A1.00021233%5E7300+
+A+=+3000%2A4.710737+
+A+=+14132.21+
After 20 yrs, she has $14,132.21
check my math