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Jackson deposits $4,200 in a savings account that pays 3.5% annual interest.What is the total value of the account after 10 years

Sagot :

bosm93

Answer:

5924, 51

Step-by-step explanation:

X = 4200(1.035)^10

And put it in a calculator

The total value of the account after 10 years is $5,924.52.

Given that,

  • The deposited amount is $4,200.
  • The rate of interest is 3.5%.
  • And, the time period is 10 years.

Based on the above information, the calculation is as follows:

[tex]= \$4,200 \times (1 + 3.5\%)^{10}[/tex]

= $5,924.52

Therefore we can conclude that the total value of the account after 10 years is $5,924.52.

Learn more: brainly.com/question/13324776

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