Question

For the past 7 years, George and Sue have deposited $10,000 in a retirement account with a simple interest rate of 4%. They plan to continue to make annual deposits for the next 15 years. Explain how their money will grow over time. Note: You do not need to extend their entire savings for 22 years in your explanation. Focus on the earning for the first several years and explain how their money will grow.

Answer 1

halp pls

Answer 2

@MAli13chineta

Answer 3

hmm
you will need to use the interest formula
I=PRT
p is the deposited money 10000 $
Rate is 4% which is 0.04
T 15 years
so I=10000(0.04)(15)

Answer 4

to know how much they earned subtract the found result from the original deposit

Answer 5

I GOT the answer it is 11722

Answer 6

take that subtract from it 10000

Answer 7

that how much the money grow