Twenty years ago Gabe invested $2,000. For the first ten years he earned 13% compounded semi-annually. For the next ten years he earned 8% compounded quarterly. What was the value of the investment now, at the end of the 20 years?

Question

Twenty years ago Gabe invested $2,000.  For the first ten years he earned 13% compounded semi-annually.  For the next ten years he earned 8% compounded quarterly.  What was the value of the investment now, at the end of the 20 years?

Steve · Answer

2000 * (1+.13/2)^(2*10) * (1+.08/4)^(4*10) = 15,560.70