Question

Maya has savings of $60,000. She invests in a bond mutual fund that pays 4% interest each year. Ignoring compounding, what are Maya's total savings after 20 years?

Answer 1

Answer:

Total saving is $ 108,000

Step-by-step explanation:

Data :

     Saving =  $60,000

      Interest = 4%

    Time = 20 years

First we need to find 4% of 60000

        (60000×4)÷100 = 2400

Total interest   2400×20 =48000

Now add saving and total interest

      60000 + 48000 = 108000

Answer 2

Answer:

Below.

Step-by-step explanation:

0.04x20 =0.8 or 80 percent.

80 percent of six thousand is 4800+6000 = 10,800