Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Answer:
if the bank removes 4percent of what ever he has in his account every year for 5 years the first year would be
$500 of 4 percent which is$20
to get the amount of the first year we deduct $20 from $500 which is 480 this is for the first year.
for the second year we do the same thing by finding 4percent of $480
which is 19.2 when we deduct this from $480 we get
$460.8
the third year
$460.8 of 4 percent =18.432
we deduct it from $460.8=$442.368.
the fourth year
442.368 of 4 percent=17.69472
deduct it from 442.368=$424.67328.
the fifth year
424.67328 of 4 percent=16.9869312.
deduct it from 424.67328=$407.6863488.
ROUNDED TO THE NEAREST CENT IS=$407.70.
hope this helps.
We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.