Posted by **julious** on Thursday, May 2, 2013 at 3:01am.

At the beginning of the year 2000, Bob put $100 in a savings account. The bank pays Bob 5% interest on his total savings at the end of each year including all interest added to the account. Assume the interest rate continues and Bob does not deposit any additional money in the account. How much will he have in his savings account, to the nearest cent, after 5 interest payments?

## Answer This Question

## Related Questions

- pre-algebra - You split $1500 between two savings accounts. Account A pays ...
- math - Malinda has a savings account set up so that her monthly interest -0.1% ...
- differential equation - If P(t) is the amount of dollars in a savings bank ...
- algebra - Amelia's parents and grand parents have both opened savings accounts ...
- math - Mr. Jones grosses $500 per week. He has 6% automatically deposited into ...
- math - Mr. Jones grosses $800 per week. He has 6% automatically deposited into ...
- Math Personal Finance - Assume we invest $2000 for one year in a savings account...
- MATH - LOLITA KEPT $200 IN HER SAVINGS ACCOUNT FOR A YEAR. THE BANK PAYS 6 1\2% ...
- math - lolita kept $200 in her savings account for a year, the bank pays 6 1/2% ...
- arithmetic - Amelia's parents and grand parents have both opened savings ...

More Related Questions