Compounded Interest - Years Invested App
1) You decided to use you part savings to contribute to you IRA (Individual Retirement Account). You can can afford to contribute $2000 and the fund that you want to invest in averages a 5% interest rate compounded yearly. Determine how much of your original investment would be worth in:
a) 20 years
b) 30 years
c) 40 years
Use the app to check your answer: