1 answer

If C dollars are deposited in an account paying r percent annual interest, the amount after x years is A+C(1+r)*

Question:

If C dollars are deposited in an account paying r percent annual interest, the amount after x years is A+C(1+r)*. Approximate the amount in the account after x years, when C=$100.00, r=19%, and x-15 years.

Answers

A = C + Crt
A = 100 + 100*0.19*15= $385..

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