17. Dennis just inherited $10,000 from a distant relative who passed away. After spending $2,000 on new tank-tops, he puts the rest into a savings account that earns 4.5% interest compounded monthly. How much money will he have after 5 years?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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17. Dennis just inherited $10,000 from a distant
relative who passed away. After spending
$2,000 on new tank-tops, he puts the rest into a
savings account that earns 4.5% interest
compounded monthly. How much money will
he have after 5 years?
Transcribed Image Text:Application-show all 17. Dennis just inherited $10,000 from a distant relative who passed away. After spending $2,000 on new tank-tops, he puts the rest into a savings account that earns 4.5% interest compounded monthly. How much money will he have after 5 years?
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