Ask Question
MathematicsMathematics
8 December, 18:21

Question 1 options: Jamal deposits $1000 into a savings account on his 18th birthday. If the 2% interest is compounded yearly, how much will he have in the account on his 65th birthday? Write your answer as a decimal rounded to the hundredths place. Do not include the dollar sign as part of your answer. $

+5
Answers (2)
  1. 8 December, 18:33
    0
    A=P (1+r/n) ^ (nt)

    P=1000 r=2/100=0.02 (decimal) n=1 t=47

    Plug these figures into the formula:

    A=1000 (1+0.02/1) ^ (1 (47))

    2,536.34
  2. 8 December, 22:05
    0
    65-18=47

    2%47 = 0.94 thats the answer
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Question 1 options: Jamal deposits $1000 into a savings account on his 18th birthday. If the 2% interest is compounded yearly, how much ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Assume that Jill deposits $20,000 in cash into her checking account at Welcome National Bank and the central bank has set a required reserve ratio of 10%. A. Explain the immediate effect of her deposit on the M1 measure of the money supply. B.
Answers (1)
Alex drives at an average speed that is 3/4 of the average speed that Roy's train travels. Alex takes 40 minutes to travel 65 km in her car. Roy travels for 1 hour and 15 minutes on his train. How far does Roy travel to 2 dp?
Answers (2)
The probability of rolling any number on a die is 1/6. If you were to roll a die 5 times in row and each time you rolled an even number what is the probability of rolling an even number on the next roll?
Answers (1)
A group of 140 tourists are going on a tour. The tour guide rents 15 van. Each van hold 9 tourist
Answers (1)
Find the are of each rectangle with the given base and height. 4ft, 4in.
Answers (1)
New Questions in Mathematics
How do you calculate a net worth statement? A. Assets+Liabilities B. Assets-Liabilities C. Assets / Liabilities D. Assets x Liabilities
Answers (2)
It is clear that a large survey is an appropriate method for a study of marriage patterns among college students. What will the researcher need to do to insure that the research sample is random?
Answers (1)
What is the volume of a cylinder, in cubic feet, with a height of 16 feet and a base diameter of 6 feet?
Answers (1)
Wei-Min makes a square quilt that has an area of 100 square feet. It has 25 square blocks, each the same size. What is the length of each side of a block?
Answers (1)
A rectangle has side lengths of 1 3/4 feet and 2 1/3 feet. Find the perimeter of the rectangle. Write your answer as a mixed number in simplest form.
Answers (1)
Home » Mathematics » Question 1 options: Jamal deposits $1000 into a savings account on his 18th birthday. If the 2% interest is compounded yearly, how much will he have in the account on his 65th birthday? Write your answer as a decimal rounded to the hundredths place.
Sign Up Forgot Password?