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kotegsom [21]
3 years ago
9

Each year a salesperson is paid a bonus of $2000 which is banked into the same account. It earns a fixed rate of interest of 6%

p.a. with interest being paid annually. The total amount in the account at the end of each year is calculated as follows:
A0 = 2000
A1 = A0 x 1.06 + 2000
A2 = A1 x 1.06 + 2000 and so on.
Find the total bank balance after 10 years, assuming there are no fees or charges.
Mathematics
1 answer:
ycow [4]3 years ago
5 0
$3200 dollars in the account
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