Question

If you put $1,000 into a savings account every year from the time you are 30 years old until you are 55 years old, you will have more than
9.8 multiplied by 104
dollars in the account when you reach 55 years of age (assuming 10% annual interest). Write
9.8 multiplied by 104
in expanded form.

Answer 1

This question is confusing me, 9.8X104=1019.2 If he puts 1000$ a year until he is 55, then he is putting a thousand dollars in for 25 years (55-30) , 25 x 100$ =25,000$

Answer 2

ooh

Answer 3

i didn't read the whole thing, my bad

Answer 4

It still doesn't make much sense to me, the whole 9.8x104 thing, maybe they mean the interest you get is greater than that number. Is the interest compounded?