Adan makes regular deposits to a savings account to save money for college. He deposits $1000 at the start of each year into an account that pays 4% simple interest at the end of each year. He does not deposit the interest. At the end of 10 years, he wants to buy a scooter that costs $500 using the interest earned. 1. How much interest has he earned over the 10 year span?2. Does he have enough to cover the cost of the scooter? If yes, how much does he have leftover? If no, how much does he need? 3. What would happen to the interest if he doubled the amount deposited at the start of each year, but only saved for 5 years?
