This problem has to do with exponential models. The question says, you deposit $1600 in a bank account. Find the balance after 3 years for each of the following situations. The first one says: 1. The account pays 2.5% annual
You decide to open an IRS-approved retirement account at your local brokerage firm. Your best estimate is that it will earn 9 percent. At the end of each year for the next 25 years, you will deposit $4000 per year into the account
You deposit $1000 for 5 years at 4% annual interest. In 5 years, you add $10000 to your account, but the rate on your account changes to 8% annual interest (for existing balance and new deposit). You leave the account untouched
Suppose that you deposit $1735.50 in a savings account that pays 9.25% annual interest with interest created to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 4 years
Suppose that you deposit $1735.50 in a savings account that pays 9.25% annual interest with interest credited to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 4 years
Suppose you deposit $1500 in a savings account that pays interest at an annual rate of 6%. No money is added or withdrawn from the account. How many years will it take for the account to contain $2500?
Samantha opened a savings account and deposited some money into the account. The account pays an annual simple interest rate of 5%. After 9 years, the interest earned on the account was $1,800. How much money did Samantha deposit