Description
You deposit $1,900 at the end of each year into an account paying 10.1 percent interest.
1) How much money will you have in the account in 24 years?
2) How much will you have if you make deposits for 48 years?
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Explanation & Answer
a=(p*r%*t)+principle
interest=$1900*10.1/100*24
4605.6+1900
=$6505.6
B
a=(p*r%*t)+principle
interest=$1900*10.1/100*48
=$9211.2+1900
=$11111.2
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