document.write( "Question 1032163: You have $175.00 that you received as a birthday present you plan on putting it in the bank for 5 years where you will earn 3% interest compounded annually. Figure out how much money you will have after each year. Decide if these earnings show a linear or non linear sequence and then explain how you came to that conclusion? \n" ); document.write( "

Algebra.Com's Answer #649369 by jorel555(1290) $\"\"$ $\"About$

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You put $175 into a bank at 3% interest; you have the principal (1)x.03 interest at the end of the year. So:
\n" ); document.write( "175x1.03=180.25 at the end of the year.
\n" ); document.write( "Calculating for each successive year, you have:
\n" ); document.write( "180.25x1.03=185.6575
\n" ); document.write( "185.6575x1.03=191.227
\n" ); document.write( "191.227x1.03=196.96
\n" ); document.write( "196.96x1.03=$202.87 at the end of the fifth year.
\n" ); document.write( "These amounts cannot be expressed by a single line, because the interest compounds after every year--meaning you earn a little more than you did before for each successive year!!!!!!!!!! \n" ); document.write( "

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