SOLUTION: If a savings account started at $200 and earned 7% per year, how much would be in the account at the end of 12 years if you are able to a dd $40 per year?

Question 1035019: If a savings account started at $200 and earned 7% per year, how much would be in the account at the end of 12 years if you are able to a
dd $40 per year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If a savings account started at $200 and earned 7% per year, how much would be in the account at the end of 12 year.
A(t) = P(1+(r/n))^(n*t)
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A(12) = 200(1.07)^(12) = $450.44
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Cheers,
Stan H.
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