Mary just deposited $33,000 in an account paying 10% interest. She plans to leave the money in this account for seven years. How much will she have in the account at the end of the seventh year?
2006-11-12 16:07:15 · 6 answers · asked by othe1220 1 in Business & Finance ➔ Personal Finance
You can't answer this without knowing how the money is compounded.
2006-11-13 04:24:39 · answer #1 · answered by 12 November 3 · 0⤊ 0⤋
depends on if its compounded interest or not.
and wouldn't this do better in homework help section?
2006-11-12 16:09:19 · answer #2 · answered by Alex W 3 · 0⤊ 0⤋
$ 56, 100.00
please tell Mary to call me, she owes me money!
lol
2006-11-12 16:10:01 · answer #3 · answered by metismaiden 2 · 1⤊ 1⤋
I hope this is not a homework question. It sure sounds like one.
2006-11-13 12:24:41 · answer #4 · answered by lady_christian99 3 · 0⤊ 1⤋
My guess is: $46,018.45
The interest for seven years: $13018.45
2006-11-12 16:25:20 · answer #5 · answered by 100yroldtree 2 · 0⤊ 2⤋
56,100
2006-11-12 16:11:26 · answer #6 · answered by kam_1261 6 · 0⤊ 2⤋