Friday

March 6, 2015

March 6, 2015

Posted by **Shadow** on Tuesday, May 11, 2010 at 10:26pm.

1.Write an expression that represents the amount of money invested in the traditional account.

2.If Kent put $500 in the bond account, how much money does he have in his retirement plan after one year?

Could someone help me on how to solve these two? Thanks

- Math -
**drwls**, Wednesday, May 12, 2010 at 12:42amBonds pay interest semiannually and interest is not compounded.

"Traditional" accounts, like bank savings accounts, pay interest monthly (usually) and add it to the principal.

1. The "traditional account", will have

5000 - X invested in it, initially, if the bond account gets X.

2. The "bond account" would have 500 + 4% or $520 after one year, if X = 500. The Traditional Account, compounded monthly, would have

$4500*(1 + 0.05/12)^12 = $4730.23

- Math -
**Tabika Tarkerara**, Monday, February 20, 2012 at 6:02pmU gotta look at the answer key. DUH!

**Answer this Question**

**Related Questions**

math - Kent invested $5000 in a retirement plan. He allocated x dollars of the ...

math - Kent invested $5000 in a retirement plan. He allocated x dollars of the ...

Algebra - A mother wants to invest 8,000 dollars into her child's college fund. ...

math - A mother wants to invest $9,000.00 for her son’s future education. She ...

math - a mother wants to $9000 for her son's future education. She invested a ...

Math 0098 - Last year, Deon had $20,000 to invest. He invested some of it in an...

6 grade algebra - cindy earns 6% simple interest each year on her savings ...

algebra - Last year, Susan had 30,000 to invest. She invested some of it in an ...

Last math problem help - Mr. Jarvis invested a total of 10,437 in two savings ...

Math - Nico was stunned when he opened the mail. Here was a check for $322.50! ...