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gregori [183]
3 years ago
5

Jay just graduated from college and he has decided to open a retirement account that pays 1.75% interest compounded monthly. If

he has direct deposits of $100 per month taken out of his paycheck, how much will he have in the account after 42 years?
Mathematics
2 answers:
dexar [7]3 years ago
6 0

Answer:

$51,282

Step-by-step explanation:

100*1.75%=1.75*504 months (42 years)=882

100*504 months (42 years)=50,400

50,400+882=$51,282

Hope this is correct, and helps you out :)

gayaneshka [121]3 years ago
4 0

Answer:

50989.68

Step-by-step explanation:

add 100 to 1.75% then multiply by 12 then multiply by 42

hope that helps :)

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Step-by-step explanation:

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