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3 years ago

If I put $300 in an account that earns 5.5% compounded yearly, how much will there be in the account at the end of 21 years

Mathematics

1 answer:

Ulleksa [173]3 years ago

6 0

answer:

$646.50

work:

5.5% of 300 is 16.50

16.50×21 (how long it is in there)=346.50

346.50(how much you made in 21 years)+300(the amount already in)= $646.50

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$\bf \begin{array}{lllll}
&x_1&y_1\\
% (a,b)
&({{ 2}}\quad ,&{{ -1}})\quad 

\end{array}
\\\\\\
% slope = m
slope = {{ m}}= \cfrac{rise}{run} \implies \cfrac{3}{4}
\\\\\\
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y-{{ y_1}}={{ m}}(x-{{ x_1}})\qquad 
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\begin{cases}
y_1=-1\\
x_1=2\\
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\end{cases}\\
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\textit{to the left-hand-side}
\end{array}\\

\left. \qquad \right. \uparrow\\
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