Ben deposits $5,000 now into an account that earns 7.5% interest compounded annually. He then deposits $1,000 per year at the end of the 1st and 2nd years. How much will the account contain 10 years after the initial deposit ?(

$14,005.88

Explanation:

The amount that Ben will contain in his account after 10 years shall be determined as follows:

Value of amount deposit now after 10 years=$5,000(1+7.5%)^10=$10,305.16

Value of amount deposit at end of year 1 after 10 years=$1,000(1+7.5%)^9

                                                                                           =$1917.24

Value of amount deposit at end of year 2 after 10 years=$1,000(1+7.5%)^8

                                                                                            =$1,783.48

Total value after 10 years=$14,005.88

($10,305.16+$1917.24+$1,783.48)

hi noah!

the first time you break a rule, you get a warning.

if you continue to break rules you get kicked out for a certain amount of time.

so, to answer your question 1.

hope this buddy!

- courtney