Question

Anne plans to save $40 a week for the next five years. she expects to earn 3 percent for the first two years and 5 percent for the last three years. how much will her savings be worth at the end of the five years

Answer 1

If she saves $40 per month, she will save $480 per year.  The first 2 years she will earn $14.40 per year and $24 for the last 3 years.

$480x5=$2,400+14.40+14.40+24+24+24=$2500.80.