SOLUTION: $2000 invested at 8% for 30 years what would the return be? What would be the total for 26 years?

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Question 538415: $2000 invested at 8% for 30 years what would the return be? What would be the total for 26 years?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
$2000 invested at 8% compounded yearly for 30 years.
what would the return be?
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A(8) = 2000(1+0.08)^(8) = $3701.86
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What would be the total for 26 years?
A(26) = 2000(1.08)^26 = $14,792.71
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Cheers,
Stan H.
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