Gilberto opened a savings account for his daughter and deposited $1000 on the day she was born. Each year on her birthday, he deposited another $1000. If the account pays 10% interest, compounded annually, how much is in the account at the end of the day on her 8th birthday? ・・・ At the end of the day on her 8th birthday, the amount in the account is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)
Gilberto opened a savings account for his daughter and deposited $1000 on the day she was born. Each year on her birthday, he deposited another $1000. If the account pays 10% interest, compounded annually, how much is in the account at the end of the day on her 8th birthday? ・・・ At the end of the day on her 8th birthday, the amount in the account is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Transcribed Image Text:Gilberto opened a savings account for his daughter and
deposited $1000 on the day she was born. Each year on
her birthday, he deposited another $1000. If the account
pays 10% interest, compounded annually, how much is in
the account at the end of the day on her 8th birthday?
・・・
At the end of the day on her 8th birthday, the
amount in the account is $.
(Simplify your answer. Type an integer or a
decimal. Round to the nearest cent if needed.)
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