SOLUTION: kelly faithfully saves $15 each week in a 12% account. at the end 20 years, how much money has Kelly put in the bank

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: kelly faithfully saves $15 each week in a 12% account. at the end 20 years, how much money has Kelly put in the bank      Log On


   

Question 965691: kelly faithfully saves $15 each week in a 12% account. at the end 20 years, how much money has Kelly put in the bank
Answer by BC17(9) About Me  (Show Source):
You can put this solution on YOUR website!
52 weeks in a year so in one year kelly will save (12% of 15) x 52. She is saving 12% of 15 a week. Times it by 52 weeks will give you Kellys savings for a year. TImes this by 20 for 20 years. Hey presto you have the answer.
12% of 15 = $1.80
x 52 weeks
= $93.60
x 20 years
= $ 1872-00