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MathematicsMathematics
1 May, 04:35

For the past 5 years, Frank and Peggy have deposited $15,000 in a retirement account with a simple interest rate of 7%. They plan to continue to make annual deposits for the next 20 years. Explain how thier money will grow over time. Focus on the earning for the first several years and explain how their money will grow.

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  1. 1 May, 04:41
    0
    The answer i got was $26,250
  2. 1 May, 04:59
    0
    next 25 years addition of 1050x25 = $26250 they

    will get
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Home » Mathematics » For the past 5 years, Frank and Peggy have deposited $15,000 in a retirement account with a simple interest rate of 7%. They plan to continue to make annual deposits for the next 20 years. Explain how thier money will grow over time.
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