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10 November, 00:30

After several years of working, Katy has savings of $100,000. If she invests that $100,000 in a savings fund that adds 5% each year, about how much will her savings account have after 20 years? Ignore compounding and taxes, and assume Katy puts no additional money into savings.

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  1. 10 November, 03:58
    0
    Answer

    $200,000

    Step-by-step explanation:

    She invested $100,000

    5% of $100,000 is $5,000.

    After 20 years, (5,000 X 20 years) = $100,000

    Starting balance of $100,000 + $100,000 = $200,000
  2. 10 November, 04:21
    0
    100% or $100,000
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