Register
You deposit $3000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 25 years?
9.5k views
5 votes
You deposit $3000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 25 years?

User Marshall Clow
by
9.1k points

1 Answer

7 votes
after 25 years you should have $6750

5% of 3000 is 150
150 x 25 = 3750
3750+3000=6750
User Chrs
by
8.3k 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 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
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!