You deposit money into a savings account that earns interest. The balance B of the account after t years is given by B = 1400 x 1.05 dollars. (a) Make a table that shows the account balance for years 0 through 10. (Round your answers to one decimal place.) $ 1400 $ 1470 $ 1543.5 $ 1620.67 $ 1701.7 $ 1786.8 6 $ 1876.1 7 $ 1969.9 8. $ 2068.4 9 $2171.8 10 $ 2280.4 (b) You want to buy a home entertainment center that costs $1600. How long will you need to wait to have enough mor in your savings account? Report your answer to the nearest whole year. 3 years 1, 3. 4.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 23E
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You deposit money into a savings account that earns interest. The balance B of the account after t years is given by
B = 1400 x 1.05t dollars.
(a) Make a table that shows the account balance for years 0 through 10. (Round your answers to one decimal place.)
$ 1400
$ 1470
2
$ 1543.5
$ 1620.67
4
$ 1701.7
5
$ 1786.8
$ 1876.1
7
$ 1969.9
8
$ 2068.4
9
$ 2171.8
10 $ 2280.4
(b) You want to buy a home entertainment center that costs $1600. How long will you need to wait to have enough money
in your savings account? Report your answer to the nearest whole year.
3
years
1.
3.
Transcribed Image Text:You deposit money into a savings account that earns interest. The balance B of the account after t years is given by B = 1400 x 1.05t dollars. (a) Make a table that shows the account balance for years 0 through 10. (Round your answers to one decimal place.) $ 1400 $ 1470 2 $ 1543.5 $ 1620.67 4 $ 1701.7 5 $ 1786.8 $ 1876.1 7 $ 1969.9 8 $ 2068.4 9 $ 2171.8 10 $ 2280.4 (b) You want to buy a home entertainment center that costs $1600. How long will you need to wait to have enough money in your savings account? Report your answer to the nearest whole year. 3 years 1. 3.
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