princesskatt
contestada

suppose you deposit $2,500 that pays interest at an annual rate of 4%. if no money is added or withdrawn from the account, answer the following questions.
a. how much will be in the account after 3 years?
b. how much will be in the account after 16 years?
c. how many years will it take for the account to contain $3,000?
d. how many years will it take for the account to contain $3,500?

Respuesta :

Answer:

you've go to find 1% first so do 2,500 divided by 100 = 25

now to find 4% you have to multiply 25 by 4 = 100

after 3 years you just multiply 100 by 3 and add to the account total = 2500 plus 300 = 2800

after 16 yrs you multiply 100 by 16 = 1600 = 2500 + 1600 = 4100

for the target of 3000 you need 500 more dollars so you would simply multiply 5 by 100 to get 500 and this would get you to 3000 = 5 years to get to 3000

for 3500 you need 1000 so multiply 100 by 10 which would = 4500 so 10 years

hope this helps


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