Asked by maggie

When Melissa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the total amount in the account after 18 years.
Answered by Henry
See previous post.
Answered by alicia
6,200
Answered by samantha
Mr Pham's retirement account has 410 000 dollars. Let's put to a situation that he's not withdrawing from his account for several years, and this earns an annual interest of 3.85%.Let's find out how much will he earn: => 3.85% = 3.85% / 100% = .0385 => 410 000 * 0.0385 = 15 785 dollars.Mr, Pham will earn around 15 785 dollars in every year for 2 years he will earn times 2 of this amount that will be added to his retirement amount. => 15 785 dollars * 2 = 31570 dollars for 2 years and so on.


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