# Algebra

posted by .

In 2005, Lee invested \$2000 in a fund that pays 5% interest for the first 10 years, and 8% interest for every year thereafter. What will be the value of her investment in the year 2020?

• Algebra -

2020 is 10 years at 5% and 5 years at 8%, so

2000 * 1.05^10 * 1.08^5 = 4786.76

## Similar Questions

1. ### Math-- Desperate for help!

Find the amount in an account if \$2000 is invested at 6.125%,compounded semi-anually,for 2 years. A. \$2,256.49 B. \$2,252.50 C. \$2,324.89 D. \$544,757.84 One of these is the correct answer. I am coming up with (D) 544,757.84 Can you …
2. ### Algebra

Greta invests \$10,000 in an investment that pays 3% interest, compounded annually, for the first three years, then 9% interest, compounded annually, for the last three years. Rui invests \$10,000 in an investment that pays r% for all …
3. ### MATH FOR LIBERAL ARTS

Maria just inherited \$10,000. Her bank has a savings account that pays 4.2% interest per year. Some of her friends recommended a new mutual fund, which has been in business for three years. During its first year, the fund went up in …
4. ### mat h

ms. buxx invested a total of \$2000 in two savings accounts. The first account pays 3% interest per year and the second account pays 5% interest per yera. If the interest from both accounts totals \$84 per yera, how much is invested …
5. ### math 141

Maria just inherited \$10,000. Her bank has a savings account that pays 4.1% interest per year. Some of her friends recommended a new mutual fund, which has been in business for three years. During its first year, the fund went up in …
6. ### math

sam invested \$5000 in a GIC earning 8% compound interest per year, the interest gets added to the amount invested, so the next year sam gets the interest on the interest already earned , as well as on te original amoun, how much will …
7. ### Finance

. (TCO 3) Mark deposited \$1,000 today, in an account that pays eight percent interest, compounded semi-annually. Which one of the following statements is correct concerning this investment?
8. ### Maths B

Kate is thinking about investing \$45000 for 5 years. She deposits her money into an account which earns interest paid quarterly at a rate of 3.99% p.a. After 1½ years, Kate withdraws her investment (including interest) and deposits …
9. ### help!!

An investment banker received a bonus and invested that money in two investments. He put a certain sum of money in the first investment that returned 7% interest after one year. In the second investment he invested four times that …
10. ### Math

System Of Elimination: Greg invested \$11,000 in two accounts. The first account pays 5% interest per year. The second account pays 8% interest per year. Greg earned a total of \$752.50 in interest at the end of the first year. How much …

More Similar Questions