SOLUTION: Mike is depositing money in a savings account. The bank sets a rate of 2% compounded every year. Mike's initial deposit into the account is $50. Which sequence describes the total

Algebra.Com
Question 1071657: Mike is depositing money in a savings account. The bank sets a rate of 2% compounded every year. Mike's initial deposit into the account is $50. Which sequence describes the total amount in Mike's account at the end of each year?

Answer by Fombitz(32388)   (Show Source): You can put this solution on YOUR website!
No sequences provided.
Please repost.

RELATED QUESTIONS

Mike started a savings account by depositing $9. Each month he deposits more money than... (answered by swincher4391)
how much money will be in a savings account if the initial deposit was $500 and the... (answered by lwsshak3)
1. Mike’s Sport Shop deposits $3,600 at the end of each year for 12 years at 7% annual... (answered by edward d,Hyot)
A high-interest savings account pays 5.5% interest compounded annually. If $300 is... (answered by ptfile)
A savings account in the Emigrant Savings Bank in New York now earns 2.25% simple... (answered by josmiceli)
Please help solving bi,ii Carter expects to live for 30 years more after his retirement. (answered by Theo)
Carter expects to live for 30 years more after his retirement. He would like to withdraw... (answered by asinus)
Kindly could anyone help to solve this problem please? Mike loans Anita 8,200. Anita... (answered by Theo)
Little Miss Buffet takes all the money from her piggy bank and puts it into a savings... (answered by Boreal)