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If Sarah invests $5,000 into a fund that earns 6% interest compounded annually, how long will it take for her investment to grow into $50,000? About 40 years About 4 years About 35 years About 20 years
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If Sarah invests $5,000 into a fund that earns 6% interest compounded annually, how long will it take for her

investment to grow into $50,000?
About 40 years
About 4 years
About 35 years
About 20 years

User XploshioOn
by
8.0k points

1 Answer

3 votes

My math says your answer would be A, About 40 years.

Here's my math to show how I got that:

If Sarah invests $5,000 into a fund that earns 6% interest compounded annually, how-example-1
User Yubaolee
by
7.7k points
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