david3253
17.01.2021 •
Mathematics
Kevin has a client who wants to invest in an account that earns 3%
interest, compounded annually. The client opens the account with an
initial deposit of $5,000, and deposits an additional $5,000 into the
account each year thereafter.
Assuming no withdrawals or other deposits are made and that the
interest rate is fixed, the balance of the account (rounded to the
nearest dollar) after the tenth deposit is
o a.) $160,075
b.) $57,319
c.) $213.097
d.) $119,289
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