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?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> 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?
Log On
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)
-----
A(12) = 200(1.07)^(12) = $450.44
--------------
Cheers,
Stan H.
-------------
(