SOLUTION: Please help. If C dollars are deposited in an account paying r percent annual interest, the amount after x years is A=C(1+r)^x. Approximate the amount in the account after x yea

Algebra ->  Human-and-algebraic-language -> SOLUTION: Please help. If C dollars are deposited in an account paying r percent annual interest, the amount after x years is A=C(1+r)^x. Approximate the amount in the account after x yea      Log On


   

Question 460735: Please help.
If C dollars are deposited in an account paying r percent annual interest, the amount after x years is A=C(1+r)^x. Approximate the amount in the account after x years, when C=$100, r=15%, and x=17 years.
A = $?
Thanks.
Skyler
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A=C(1+r)^x. Approximate the amount in the account after x years, when C=$100, r=15%, and x=17 years.
A(17) = 100(1.15)^17
A(17) = $1076.13

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Cheers,
Stan H.