SOLUTION: If I invest $2000 at 8% interest for 30 years how much will I have? What would be the answer if I started at age 22?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: If I invest $2000 at 8% interest for 30 years how much will I have? What would be the answer if I started at age 22?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 538388: If I invest $2000 at 8% interest for 30 years how much will I have? What would be the answer if I started at age 22?
Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
If I invest $2000 at 8% interest for 30 years how much will I have?
What would be the answer if I started at age 22?
:
A = 2000*1.08^30
A = 2000*10.062569
A = $20,125.31
:
It doesn't matter what age you start, it's the no. of years it is invested the counts