algebra word problem?

3 ⤊

algebra word problem?

If $1,500 is deposited each and every year in an account yielding 6% interest, compounded annually, how much money will have been saved after 10 years?

2007-07-29 12:57:51 · 3 answers · asked by Patricia F 1 in Science & Mathematics ➔ Mathematics

3 answers

= 1500*(1.06^10 +1.06^9 + 1.06^8 + 1.06^7 + 1.06^6 + 1.06^5 + 1.06^4 + 1.06^3 + 1.06^2 + 1.06)

place this formula to excell and get

= 20957,46
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2007-07-29 13:13:26 · answer #1 · answered by oregfiu 7 · 2⤊ 0⤋

1500 x .06= 90+1500 =1590 year1
1590 + 1500 = 3090 x .06 =

sorry im bored u figutre out the rest oh and 9000 is not the answer

2007-07-29 20:06:11 · answer #2 · answered by J F 1 · 1⤊ 0⤋

9000 is the asving plus 15000 actual amount.

2007-07-29 20:03:26 · answer #3 · answered by Herman 2 · 0⤊ 1⤋