SOLUTION: Suppose that you deposit $1000 at the end of each year into an account paying 7 1/2% interest compounded annually. How much money would you have at the end of 10 years?
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Question 917117: Suppose that you deposit $1000 at the end of each year into an account paying 7 1/2% interest compounded annually. How much money would you have at the end of 10 years? Answer by ewatrrr(24785) (Show Source):
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A = Accumulated Amount
P= principal = $1000
r= annual rate = .075
n= periods per year = 1
t= years = 10
