Ask Question
23 July, 04:33

Janelle puts $1,000.00 into an account to use for school expenses. The account earns 14% interest, compounded annually. How much will be in the account after 10 years?

+5
Answers (1)
  1. 23 July, 07:06
    0
    Answer: $2,400

    Step-by-step explanation:

    Initial money saved by Jane = $1,000

    If 14% interest is generated annually, the annual Interest amount to 14% of $1,000 = $140

    After 10years, the accrued interest will be $140 * 10 which is $1,400

    The total amount that will be in the account after 10years will be initial deposit + accrued interest

    = $1,000 + $1,400

    =$2,400
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Janelle puts $1,000.00 into an account to use for school expenses. The account earns 14% interest, compounded annually. How much will be in ...” 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