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Assume that you want to replace your sailboat with a larger one in 3 years. To save for a
down payment for this purchase, you deposit $2,000 for 3 years in a bank account that pays
10% annual interest, compounded annually. How much will be in the account at the end of 4
years?

Assume that you want to replace your sailboat with a larger one in 3 years To save for a down payment for this purchase you deposit 2000 for 3 years in a bank class=

Respuesta :

Answer: $11,600

Step-by-step explanation:

$2000 * 10% = $200

y = 200x + $2,000

12 * 4 = 48

48 = x

y = 200(48) + $2,000

y = $9,600 + $2,000

y = $11,600

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