Register

John decided to start saving for college. He deposited $500 into an account which earns 4% simple annual interest. At the end of each year, he will add $250 to this account. How …

John decided to start saving for college. He deposited $500 into an account which earns 4% simple annual interest. At the end of each year, he will add $250 to this account. How …
101k views
1 vote
John decided to start saving for college. He deposited $500 into an account which earns 4% simple annual interest. At the end of each year, he will add $250 to this account. How much will he have in his account after the end of three years?

User Ekclone
by
7.7k points

1 Answer

3 votes
Fv=500×(1+0.04×3)+250×(1+0.04×2)+
250×(1+0.04×1)=560+270+260=1,090
User Geekoverdose
by
8.6k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!