SOLUTION: You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years. You plan to save the following amounts annually, starting t

Question 1080904: You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years. You plan to save the following amounts annually, starting today: $649, $698, $692, and $733. If the account pays 5.90 percent annually, how much will you have at the end of four years? (Round answer to 2 decimal places, e.g. 15.25.)

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
This is easier by just doing each calculation.
649*0.059=38.29
now have $687.29
add $698=$1385.29, and that *0.059=$81.73.
$1467.02.
Add $692 to get $2159.02 and that *0.059=$127.38
$2286.40.
Add $733 to get $3019.40, and that *0.059 is $178.14
$3197.54

RELATED QUESTIONS
You are a freshman in college and are planning a trip to Europe when you graduate from... (answered by Theo)

Of 100 persons in a company, 70 r married, 80 r college graduates, and 60 are both... (answered by ikleyn)

If the probability that the average freshman will complete four years of college is 2/3,... (answered by stanbon)

Suppose you have a newborn baby and you want to start a college fund for when the baby is (answered by Theo)

Use the characteristics of a binomial experiment. Seventeen percent of married couples (answered by reviewermath)

The Pireras are planning to go to Europe 4 years from now and have agreed to set aside... (answered by CPhill,ikleyn)

At a local community college, 51% of students who enter the college as freshmen go on to... (answered by edjones)

For this assignment, you are required to visit a college near you. Contact your... (answered by MathTherapy)

In an electrical firm, 75% of the employees are Bumiputras. Of the... (answered by ewatrrr)