Question

Jerry deposited 20,000 on an investment that will give 1,750 for every year that his money stays in the account. How much money will he have in his account by the end of the year 8? with solutions​

Answer 1

Answer:

$34,000

Step-by-step explanation:

Jerry will get $1,750 for every year that his money stays in the account thus for 8 years he will get:

8*1,750 = $14,000

Together with the deposited money:

$20,000 + $14,000 = $34,000

By the end of year 8 there will be $34,000 of Jerry's account.