Register
what is the balance in the account after 25 years how much of this balance corresponds to interest on interest
99.2k views
6 votes
what is the balance in the account after 25 years how much of this balance corresponds to interest on interest

User Byoungb
by
7.3k points

1 Answer

7 votes
Using future value formula


The balance in the account after 25 years is $6,848.48.


The balance that corresponds to "interest on interest" is $3,848.48.
User Vee
by
7.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.8m questions

11.4m answers

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
What is meant by data mining ?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain
Link Copied!