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?

Algebra ->  Polynomials-and-rational-expressions -> 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?      Log On


   

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) About Me  (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.