Ask a New Question

Question

Scott deposits $5000 at the end of each year into an account for five years. Assuming 6% interest annually, what is the value of his account in five year?
3 years ago

Answers

mathhelper
applying the basic formula....

amount = 5000( 1.06^5 - 1)/.06
= ......
3 years ago

Related Questions

Scott deposits $1,000 in an account that earns 5% simple interest. What will the account be worth af... Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then... Lamar deposits 5000 into an account that pays interest at 4% per year. How much interest wilk he be... So far they have $5000 in their fund. Timmy gave $450. Donna gave $900. How much did Kathy give? A... Scott deposits $400 into an account that pays simple interest at a rate of 6% per year. How much int... 18.75 lbs = 5000 sq ft how much needed to cover 27000 sq ft Tammy Smith Deposits $5000.00 in First Internets Bank 5-year CD which pays 5.22% interest compounded... Ariel deposits $5000 in an account that earns simple interest at an annual rate of 3%. Travis deposi... What is 40% of 5000 Eric deposits $5000 into an account that pays simple interest at a rate of 4% per year. How much in...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use