   Chapter 5.4, Problem 9CP ### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

#### Solutions

Chapter
Section ### Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
1 views

# Checkpoint 9 Worked-out solution available at LarsonAppliedCalculus.comYou deposit $1000 each year in a savings account paying 4 % interest. How much will be in the account after 10 years? To determine To calculate: The amount after 10 years in the account when$1000 deposited every year in a savings account that pays 4% of interest.

Explanation

Given information:

The amount deposited every year in a savings account is $1000 that pays 4% of interest. Formula used: To determine the amount of an annuity: Amount of annuity=erT0Tc(t)ertdt Where c is the income function, r is interest rate and T is term of annuity in years. Calculation: Consider the amount deposited every year in the account and interest paid,$1000 and 4%

Now to find the amount after 10 years,

The income function for the deposit is c(t)=$1000, Interest rate is r=4%=0.04. And take term of annuity in years as T=10. Now by the formula to calculate amount of the annuity after 10 years, Amount of annuity=erT0Tc(t)ertdt Now, substitute c(t)=$1000, r=

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### Show that sinxcosx2 for all x.

Single Variable Calculus: Early Transcendentals, Volume I

#### In Exercises 73-80, find the indicated limits, if they exist. 77. limxx4+1x31

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

#### In problems 31-36, simplify each expression. 34.

Mathematical Applications for the Management, Life, and Social Sciences 