Question

If c dollars are deposited in an account paying r percent annual interest, approximate the amount in the account after x years if c =$250, r=1.5%, and x=19 years.

A=$_______(Round up to the nearest cent.)

Answer 1

compounded or simple

Answer 2

annual

Answer 3

\[250\times (1.015)^{19}\] and now a calculator

Answer 4

if compounded annually answer is $331.7376863

Answer 5

if simple interest is paid $250*0.015*19/100