If $55 is put in an account that gets 6% and i add $20 at the end of each year, how much will i have at the end of 10 years?

Question

Mathematics

Guest

22 February, 01:00

If $55 is put in an account that gets 6% and i add $20 at the end of each year, how much will i have at the end of 10 years?

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Answers (1)

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Jean Sellers · Answer 1

I will not give you the answer but I will show you how to solve this.

55*.6 = A

65*.6=B

75*.6=C

85*.6 = D

Do you see the trend? Continue until ten equations are formed and add all of the totals. A+B+D+C ... = Total