Economics
posted by manny .
Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then deposits $1000 per year at the end of the first and second years.
How much will the account contain 10 years after the initial deposit?
Respond to this Question
Similar Questions

math
you deposit $ 900 in a savings account that earns 4%interest coumpounded once a year and has no service charges. you donot make any deposits or withdrawals to the account for two years. at the end of two years, after the second year's … 
Precalc growth and decay
Alison deposits $500 into a new savings account that earns 5 percent interest compounded annually. If Alison makes no additional deposits or withdrawals, how many years will it take for the amount in the account to double? 
value of money
Deposits of $1,000, $1,100 and $680 were made into a savings account, the first two years ago, the second 18 months ago, the third 6 months ago. How much is in the account now if the interest on all deposits is 12% compounded semiannually? 
math
Deposits of $1,000, $1,100 and $680 were made into a savings account, the first two years ago, the second 18 months ago, the third 6 months ago. How much is in the account now if the interest on all deposits is 12% compounded semiannually? 
Maths B
Kate is thinking about investing $45000 for 5 years. She deposits her money into an account which earns interest paid quarterly at a rate of 3.99% p.a. After 1½ years, Kate withdraws her investment (including interest) and deposits … 
Finance
Assume that you are 23 years old and that you place $3,000 yearend deposits each year into a stock index fund that earns an average of 9% per year for the next 17 years. 1. How much money will be in the account at the end of 17 years? 
math
Investor A deposits 1,000 into an account that earns an interest rate of 6% per annum compounded semiannually. On the same date, Investor B deposits 800 into an account that earns an interest rate of 8% per annum compounded monthly. … 
business math
If you make two equal deposits now and 5 years from now into an account that pays interest at a rate of 4% compounded annually. IF the goal; is to have $12,000 in the account 12 years from now, what should each of the deposits be? 
math
Ben deposits $400 into an account that earns 5% interest compounded annually. Sam deposits the same amount into an account that earns 5% simple interest. Compare the account balances after 2 years. 
math
Bob places $5,000 in a special account that accumulates interest compounded annually. Assuming no additional deposits or withdrawals, how much will be in the account after 7 years if the interest rate is 8.5% per annum for first 4 …