You just found out that you have $8,115 in a savings account. Your uncle opened the account in your name exactly 6 years

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

You just found out that you have $8,115 in a savings account. Your uncle opened the account in your name exactly 6 years

Post by answerhappygod »

You just found out that you have $8,115 in a savings account. Your uncle opened the account in your name exactly 6 years ago, and deposited $X in the account. Then he put in another $3,900 four years after opening the account. Other than $X and the $3,900, there were no other deposits. If the interest rate for the past 6 years has been 11%, what is X?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply