Ask Question
16 January, 07:01

When she was born, tabitha's aunt put $10,000 in a bank account in tabithas name to be saved for her collage education. The account earns 6% annual interest. Write a rule that could be used to calculate the value of the account for any number of years

+4
Answers (1)
  1. 16 January, 08:38
    0
    value after years = (starting value) * (1+annual interest) ^ (number of years)

    Step-by-step explanation:

    for one year value multiply base value by 1.06 (+6%).

    for two year value multiply base value by 1.06 (+6%) and then multiply the result by 1.06 (+6%).

    hence for X year value multiply base value by 1.06 in a power of X. in other words, you have to multiply 10000 by 1.06 so much times how much years have passed.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When she was born, tabitha's aunt put $10,000 in a bank account in tabithas name to be saved for her collage education. The account earns ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers