Ask a New Question

Question

Jeremy is in Grade 8. He has a paper route and wants to save for his college education. He determines that he has $100 per month to put into an account at 6%/a compounded monthly. How much will he have at the end of five years for his college education?
14 years ago

Answers

Reiny
amount = payment [(1+i)^n - 1]/i
where i = .06/12 = .005
n = 5(12) = 60
payment = 100
14 years ago

Related Questions

Jeremy got scores of 93,82,91, and 88 on his first four math test. What score must he get on the fif... Jeremy says that the absolute value of 6 is -6.is he correct?explain Jeremy wants to save $130 to buy a bird bath. He has already saved $89, how much more does he need t... Jeremy wants to save $130 to buy a birthday he always already say $89 how much more does he need to... Jeremy had a set of 500 toy blocks that could be connected by snapping them together. At first, he u... Jeremy had a set of 500 toy blocks that could be connected by snapping them together. At first, he u... Jeremy had a set of 500 toy blocks that could be connected by snapping them together. At first, he u... Jeremy has a vase that contains red, blue, and green marbles. He draws a marble from the vase, recor... Jeremy is trying to explain why a triangle with side lengths 35, 30, 60 is not a right triangle. His...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use