When I invested $50,000 in this mutual funds at the beginning of the 3rd year, how much the invested money would be worth at the end of the year 8? State each step of calculation and explain the step.

year Return( %) GrowthFactor

1 -22.1 0.779

2 28.7 1.287

3 10.9 1.109

4 4.9 1.049

5 15.8 1.158

6 5.5 1.055

7 -37.0 0.630

8 26.5 1.265

9 15.1 1.151

10 2.1 1.021