Suppose you deposit $1,000 in a savings account that pays interest at an annual rate of 5%. If no money is added or withdrawn from the account, answer the
following questions
a. How much will be in the account after 4 years?
b. How much will be in the account after 16 years?
c. How many years will it take for the account to contain $1,500?
d. How many years will take for the account to contain $2,000?