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Your parents put $500 into an account paying 7 percent interest for you when you were ten. ten years later they tell you that you can take the money out of the account. what is the balance to the nearest
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Your parents put $500 into an account paying 7 percent interest for you when you were ten. ten years later they tell you that you can take the money out of the account. what is the balance to the nearest penny?

User Alexandru Cristescu
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2 Answers

2 votes
A=500×(1+0.07)^(10)
A=983.58
User Icuken
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8.6k points
2 votes
The answer is $983.58
User Vikram Hosakote
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9.2k points
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