The Nelson family invests $6,000 into an account that earns 4.85% annual interest. They deposit an additional $175 each month. At the end of 5 years, will the value in the account be enough to pay for at least the first year of college?

Answers

Answer 1

The amount after five years is calculated by compound interest to be $19733 and it can pay for the first year of college.

For the first year;

Initial money invested = $6,000

Money deposited monthly throughout the year = 12 ×  $175 = $2100

Total principal = $6,000 + $2100 = $8,100

Interest = $8,100 × 4.85 × 1/100 = $392.85

Second year;

Principal = $8,100 + $392.85 + $2100 =$ 10592.85

Interest = $ 10592.85 × 4.85 × 1/100 = $ 513.75

Third year;

Principal = $ 10592.85 +  $ 513.75 +  $2100 = $13206.6

Interest =  $13206.6  × 4.85 × 1/100 = $640.5

Fourth year;

Principal = $13206.6 + $640.5 + $2100 = $15947.1

Interest = $15947.1 × 4.85 × 1/100 = $773.4

Fifth year;

Principal = $15947.1 + $773.4 + $2100 = $18820.5

Interest =  $18820.5  × 4.85 × 1/100 = $912.8

Money at the end of five years; $18820.5 + $912.8 = $19733

Learn more about compound interest: https://brainly.com/question/25857212


Related Questions

what was the corrupt bargain of 1824

Answers

Answer:

Michael Jackson coming up in yo bis

Explanation:

C
Which of these regulations is established at the federal level?

Answers

Answer:

What the answer choices

Upload it with the choices provided

You look good today!

Answers

Answer:

The correct answer would be FALSE

Explanation:

false because it is not true

what are 3 Events during the eruption of Mount Vesuvius



50 points !!!!!!!!!!!!!

Answers

Answer:

raw material

place for settlement

Answer:A flow of rock and ash followed, collapsing roofs and walls and burying the dead. and obviously death

Explanation:

Write a paragraph that analyzes what Mahan seems to believe that the United States can learn from the examples of England and France.
WILL GIVE BRAINLIEST

Answers

Answer Mahan cautions that if the United States does not look toward the sea, it will suffer the same fate as England and France. Declining to get into specifics, he suggests that not building up their navies has made them vulnerable to external wars, which has negatively impacted trade and commerce. He says that even if the United States does not want to expand overseas, it is still vital to have a strong navy to protect the nation’s shores from invasion.

Explanation: edmentum

The lessons that Mahan seems to believe that the United States can learn from the examples of England and France are the naval policies.

Who was Mahan?

Alfred Thayer Mahan was one of the foremost thinkers on naval warfare and maritime strategy.

What can be learned from England and France?

According to Mahan, the British control of seas paved way for emergence of England’s domination over the world. He also suggested that not building up their navies made France vulnerable to external wars, which had negative impacted trade and commerce.

What can be applied to policies of the US?

Thus, it is vital for the United States to have a strong navy to protect the nation’s shores from invasion. Mahan also believed these lessons from the examples of England and France could be applied to U.S. foreign policy, particularly in the quest to expand U.S. markets overseas.  

https://brainly.com/question/20904161

#SPJ2

us economic goals are reflected in the

Answers

Answer:

reflected in the values and needs of constituents impacted by staff members in each branch and interest groups

hope this helps :0

how far was egypt to the hydaspes river in india

Answers

The distance between these two areas was somewhere around 3,000 miles.

This only makes their journey even more astonishing because they managed to walk across 3,000 miles while constantly being involved in battles. This is why it was said that his soldiers would be ready to march to the end of the world for him even though they stopped at one point.

Hope this helps! :)

With 20 million men available who
volunteered or were drafted, the U.S.
military prepared for which of the
following?
A. War in Asia
B. War in Africa
C. War in Europe
D. War in Asia and Europe

Answers

Answer:

D

Explanation:

War in Asia and Europe

Please mark brainliest

Babylon succeeded in overthrowing Assyria because

Answers

Answer: Because they had God, and more power at the time.

Explanation:

How does the US government issue debt

Answers

Answer:

The US increase tax when debt is published.

Explanation:

Ex. Why Joe Biden taxed the millionaires more money.

The proposed tax would hit the gains of those with more than $1 billion in assets or incomes of more than $100 million a year, and it could begin to shore up the big social services and climate change plan Biden is racing to finish before departing this week for global summits.

Who or what does them refer to choose the word that completes the sentence

Answers

I am confused on what you are asking...

. What was the weather on Christmas day 50 years ago?

Answers

Answer:

Temperatures dipped to -52 degrees in Butte, Montana, and a new contiguous United States record high barometric pressure of 31.42 inches was set at Miles City, Montana. This was an indication of how cold the air was that was headed southeast.

Explanation:

write the four super-family language that native african people speak.​

Answers

I think it’s Arabic, Amharic, Zulu, Berber

In the Allied conferences, the United States, the Soviet Union, and Great Britain often worked together toward their goals and vision of the post-war world. How did this balance of power affect the war's outcome and the political aftermath?

Answers

Relations between the Soviet Union and the United States were driven by a complex interplay of ideological, political, and economic factors

Answer:

Overall, the balance of power allowed the three nations to work together toward victory. By agreeing to common strategies during the war, they were able to coordinate military efforts to defeat Germany. However, the balance of power also had complications. The three countries did not always agree, particularly on the post-war vision, which included the amount of any German reparations. These tensions, particularly between the US and the USSR, would carry on after the war.

Explanation:

PLATO

Tutorial :)

Which country was a member of the Central Powers?
• Serbia
Ottoman Empire
• Russia
• Italy

Answers

Answer:

serbia and ottoman empire

Explanation:

Discuss the impact of the Mongol Empire on the Afro-Eurasian world. Give specific examples.

Answers

Answer: the Mongols constructed the larges Eurasian empire to date. ... They encouraged trade and exchange across the Eurasian network. • The fostered the spread of the Black Death across Eurasia.

Explanation:

why was the scientific method so valuable to scientist during this time era

Answers

Answer: Scientists still use this basic method today. An advantage of the scientific method is that any trained scientist can repeat what another has done. In this way, scientists can test each other's ideas.

Explanation: Give me the brainiest

true of false there was a tie in the election or 1800​

Answers

Answer:

true Jefferson and burr both tied but then Alexander Hamilton broke the tie by voting for Jefferson

use of fertilizer

*crop rotation

*use of seedlings

*improved irrigation

*new types of plows


The above list describes agricultural improvements under the

A.

Song Dynasty.

B.

Sui Dynasty.

C.

Yuan Dynasty.

D.

Ming Dynasty.

Answers

The use of fertilizers, crop rotation, use of seedlings, improved irrigation and new types of plows describe agricultural improvements under the Song dynasty. The correct option is a.

What is the Song dynasty?

The Song dynasty was an imperial dynasty in China that began in 960 and lasted until 1279. The dynasty was founded by Emperor Taizu of Song following his usurpation of the throne of the Later Zhou. The Song conquered the rest of the Ten Kingdoms, ending the Five Dynasties and Ten Kingdoms period.

The Song often came into conflict with the contemporaneous Liao, Western Xia and Jin dynasties in northern China. After retreating to southern China, the Song was eventually conquered by the Mongol-led Yuan dynasty. The dynasty is divided into two periods: Northern Song and Southern Song. During the Northern Song, the capital was in the northern city of Bianjing and the dynasty controlled most of what is now Eastern China.

The Southern Song refers to the period after the Song lost control of its northern half to the Jurchen-led Jin dynasty in the Jin–Song Wars.

Learn more about dynasty, here:

https://brainly.com/question/873887

#SPJ5

The above list describes agricultural improvements under the Song Dynasty. In China, the Song Dynasty was an imperial dynasty that ruled from 960 to 1279. Thus, option A is correct.

The dynasty was established by Emperor Taizu of Song after he usurped the Later Zhou throne. The remainder of the Ten Kingdoms were subdued by The Song, bringing an end to the Five Dynasties and Ten Kingdoms period.

The Song and the concurrent Liao, Western Xia, and Jin dynasties in northern China frequently clashed. The Yuan dynasty established by the Mongols eventually overthrew the Song when it fled to southern China. The Northern Song and Southern Song periods make up the dynasty. The Northern Song dynasty ruled the majority of what is now Eastern China, with the capital located in the northern city of Bianjing.

Therefore, option A is the ideal selection.

Learn more about the song dynasty here:

https://brainly.com/question/1961463

#SPJ3

Japan aimed at conquering the small islands in the Pacific Ocean one by one. This strategy of controlling one small island after another is called
.

Answers

This would be called Island Hopping. This is the slow process of capturing one island after another.

Study the diagram and answer the question that follows 4) Which phrase correctly replaces the question mark in this diagram? A) Increase in minimum wage B) Growth of immigration C) Increase in unemployment D) Growth in consumer spending

Answers

Increase in unemployment

Most nations in the world experienced an economic shock during the Great Depression (1929–1939). Hence Option C is correct .

What was the Great Depression ?

It was a time of economic slump that became apparent following a significant decline in American stock prices. The Wall Street stock market crash of October 24 was caused by the economic contagion, which started around September (Black Thursday).

The depression of the 20th century was the longest, deepest, and most pervasive one ever.

Global gross domestic product (GDP) declined by an estimated 15% between 1929 and 1932. In contrast, during the Great Recession from 2008 to 2009, the global GDP decreased by less than 1%. By the middle of the 1930s, some economies had begun to recover.

However, the Great Depression's devastating impacts persisted in many nations until the start of World War I.

Learn more about Great Depression here

https://brainly.com/question/29771180

#SPJ2

Confucian refers to?

Answers

Answer:

It is a cultural mainstream thought and philosophy that originated in China and at the same time influenced and spread to other surrounding East Asian countries.

Explanation:

Arrange the jumbled word to open up the lesson. Write your answer in your paper. Arnis de Mano. bacause. .arnes. . Spanish. terms .became. .of the. trappings or. .worn . actors. .moro moro. harnesses that are .by hands the ​

Answers

Your question isn’t a full question

In the contexts of the text how are we changed by the war

Answers

Answer:

Peoples outlook on other continents

Explanation:

Use the story below fill I the questions.



A) Origin and development









B) Earth











C) Life











D) Early technologies

Answers

Answer:

Sorry

Explanation:

I not get answers

write a conversation between Mahatma Gandhi and Rabindranath Tagore about the Western education​

Answers

Answer:

Mahatma Gandhi thought that the western education was hampering the Indian culture .He also felt that the ideas of western education could modernise the Indian people but could not educate them.  

Rabindranath Tagore wanted to combine the good aspects of it with the indian traditions ,He recognised the importance of science and technology and wanted to promote them along with art ,music and dance at Shantiniketan.

Explanation:

Political decisions were made in the Greek city-state of Athens by:
A. a council of elders holding a debate and then voting.
B. a single powerful king making all the decisions on his own.
C. an emperor in a foreign country who sent orders.
D. a vote of all citizens.

Answers

Answer:

Greek democracy created at Athens was direct, rather than representative: any adult male citizen over the age of 20 could take part, and it was a duty to do so. The officials of the democracy were in part elected by the Assembly and in large part chosen by lottery in a process called sortition.

Answer:

The answer is D.

Explanation:

I took the test.

Can someone help me answer this question? ​

Answers

Answer:

The Federalist Papers were written and published to urge New Yorkers to ratify the proposed United States Constitution, which was drafted in Philadelphia in the summer of 1787.

Hey guys, I need your help. How did South Africa resist British Imperialism? If they did not, can you please explain why? What was the result of resistance, what were the ramifications of the resistance?

Answers

Answer:

It was these political, diplomatic, and commercial factors and contentions that led to the military conflicts and organized African resistance to European imperialism. African military resistance took two main forms: guerrilla warfare and direct military engagement.

Explanation:

What is a good topic and or question to write an essay about after independence of Latin America which I can find sources easily for

Answers

An essay about after independence of Latin America which I can find sources easily for context. Latin America approached independence after a thoroughgoing ethnic and cultural transformation across a period of over three centuries. That process did not destroy the indigenous component.

Other Questions
The drummer is the best performer. What is the noun in this sentence Are these a Chemical or Physical Change??1. Sodium Bicarbonate breaks down into sodium carbonate and water.A. Chemical ChangeB. Physical Change2. Mercury is cooled until it is in the solid state.A. Chemical ChangeB. Physical Change What is the volume, in liters, of 1.4 moles of CO2 gas at STP? The formula p=F/A can be used to relate pressure force and area. Solve the formula for A. A market increased the price of cheese selling for $4.98 per pound by 3%. What is the new price for two pounds of cheese?QUICK Which of the following is a possible consequence of solid pollutants in a lake or river? Build-up of garbage in freshwater Quick drop in dissolved oxygen Decrease in algae colonies Sudden hypoxic waters Hey yall I need help on this question pls give explanation You are given a picture that is 2 inches wide and 3 inches tall. You have to make aposter that is 12 inches wide. How many inches tall would the poster be? *O 10 inches12 inches15 inchesO 18 inches why did European countries begin looking for trade routes that did not pass through Italy? Regina works as a stock clerk at The Store. She has been shortlisted to be promoted as a merchandise manager. During her promotion interview, she reveals to the interviewer that at some point in the next 10 months, she will need to undergo surgery to remove a tumor from her vertebrae and that even if the surgery is successful, her movement after the surgery could be severely limited. In her new job, however, Regina will have to frequently travel between the warehouse and the store and move around the store to ensure that the merchandise is displayed and placed properly. Which of the following holds true in this case?a. The Store may decline to promote Regina if it is reasonably certain that in the near future she will be unqualified to work as a merchandise manager.b. The Store may be required to promote Regina, even though she may be rendered unqualified in the near future, only if she agrees to defray the cost of any accommodation that may be necessary.c. Even though it appears that the surgery may result in Regina being not otherwise qualified for the new job, The Store may not decline to promote her to the new job if she is qualified at the time of the interview.d. The possibility of future disability is, under the Americans with Disabilities Act, equal to a present disability, regardless of the probability of a disability materializing. What is the greatest common factor of 70 and 33? What is the perimeter and area of this shapeWould help if you explained why Will give brainliest Select the correct answer from each drop-down menu.Which two processes of dead bodies can help forensic investigators determine the time of deatheWhen a forensic Investigator determines the time of death, he or she has two primary dues from the core.body stiffens after death and goes through predictable stages beginning two hours after death.causes the blood to flow downward and bluish-purple blotches appear due to the lack of orggen.swhen aismengunty When a dark blue fish and a light blue fish with dark blue fins were mated , all offspring became dark blue. What could also be seen was that part of the offspring got light gray fins.Explain with the help of genetics why all fish turn dark blue. 12. First-degree burns almost always require medical attention.(1 point)O TrueO False why do the scientists feel comfortable with calling the hybrids a new species Find an equation in slope-intercept form of the line satisfying the specified conditions.Through (8,-3), perpendicular to -6x + 7y=-62. what does Aphorism mean What is 27.6 / 8??????????? Which painting is the most accurate representation of what really happened during the Boston massacre?