Asked by chezburger
Charlie deposits $1,000 on the first day of each year into his investment account. The account grows at a rate of 8 percent per year. To the nearest dollar, how much money will be in the account on the first day of the 11th year?
A) $14,487
B) $1,087
C) $18,977
D) $16,645
A) $14,487
B) $1,087
C) $18,977
D) $16,645
Answers
Answered by
chezburger
whats the answer?
Answered by
chezburger
Answers for da math
1) Sn=a1(1-r^n)/(1-r)
2) 2047
3) $16,645
4) 2,912
5) 1,092
1) Sn=a1(1-r^n)/(1-r)
2) 2047
3) $16,645
4) 2,912
5) 1,092
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.