If you invested $39,000 for 20 years at 7% interest rate how much would you get?
+118608 If it is compounded annually you will get $150917.69
$${\mathtt{39\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.07}}\right)}^{{\mathtt{20}}} = {\mathtt{150\,917.694\: \!036\: \!960\: \!984\: \!246\: \!2}}$$
Sorry anon, I did not realize that you have done the same thing :/
If you are talking about simple interest compounded annually and never take any money out you would wind up with:
39000 x 1.07^20 = 150,917.69
+118608 If it is compounded annually you will get $150917.69
$${\mathtt{39\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.07}}\right)}^{{\mathtt{20}}} = {\mathtt{150\,917.694\: \!036\: \!960\: \!984\: \!246\: \!2}}$$
Sorry anon, I did not realize that you have done the same thing :/
