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

Which of the following ideas did you include in your plan?

civil rights for African Americans

punishment for those loyal to the Confederacy

military involvement to enforce laws

restrictions on suffrage

prohibition of slavery

other ideas

Answers

Answer:

You can pick any.

Explanation:

Answer:

literally just click all of them it works?

Explanation:

Considering that the Ottoman government denied any orders or mass killings, why is Turkish Army Officer Lieutenant Baas' account important?

A.) His first-hand account supports the Ottoman government


B.) His first-hand account contradicts this denial


C.) He had recovered old documents that support the Ottoman government


D.) He had recovered old documents that contradict this denial

Answers

Answer:

B. His first-hand account contradicts this denial

The Ottoman Empire is a Turkish Empire, which was founded by the tribal leader Osman I. The genocide was done to destroy the diversity and ethnicity of the Ottoman Empire.

The correct answer is:

Option B. His first-hand account contradicts this denial

The facts can be explained as:

1. The account of Lieutenant Baas is vital despite the continued denial issues.

2. The denial was issued by the Ottoman government to order the mass killings.

3. Thus, the first-hand account contradicts the denial.

The correct option is Option B.

To know more about Ottoman Empire, refer to the following link:

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What did the war guilt clause say

Answers

Paraphrasing it basically said the war was all Germany fault they would have to disarm give up their territories and pay the allied powers money

The Mayan culture thrived from about 250 AD to 900 AD.
O True
False

Answers

This is true, hope this will help you

Reading essays reveals a dark side to Manifest Destiny. What is that dark side?

A.
American imperialism
B.
American slavery
C.
unplanned deaths of Native Americans caused by disease
D.
unplanned deaths of settlers from conflicts

Answers

Answer:

A, American imperialism

The Bill of Rights allows all Americans to worship as they choose.


True or False

Answers

Answer:

True

Explanation:

The bill of rights guarantees civil rights and liberties to the individual, for example, freedom of speech, press, and religion.

Answer: technically, true

Explanation: yes, in the first amendment, it promises freedom of speech and worship, however it has taken many years to actually get to that point

What five (5) cities on the Arabian Peninsula (not elsewhere!) do you think would have been important trading centers? Write down the names of the cities and explain why you think these cities became important trading centers.

Answers

Answer:

The Arabian Peninsula is surrounded by water on three sides, but desert dominates the interior. This makes Arabia a harsh land. About 1,500 years ago, commerce was lively in this region because trade routes converged at the Arabian Peninsula. Towns that depended on trade grew near the Arabian Peninsula's coasts.

Explanation:

Question 1: Name the three locations where most immigrants first stepped onto American soil and give one fact for each. Question 2: Briefly describe what the experience was like for a typical immigrant family arriving at Ellis Island. Question 3: How was the experience for Asian immigrants at Angel Island different than of European immigrants at Ellis Island? Question 4: As you read the last two paragraphs of the assignment. complete the following to show how immigrant groups were held together and preserved their cultural traditions. One has been done for you in the chart ->> Look at the picture for this chart. Question 5: How did immigration change the United States? ( Will Mark Brainliest if answered correctly). ​

Answers

1) Castle Garden, New York City (country's first official immigration center) • Ellis Island, New York City (processed more than 10 million immigrants) • Angel Island, San Francisco (primarily processed Asian immigrants)

2)Despite the island's reputation as an “Island of Tears” the vast majority of immigrants were treated courteously and respectfully, free to begin their new lives in America after only a few short hours on Ellis Island. Only two percent of the arriving immigrants were excluded from entry.

3)Most of the people who entered through Angel Island were from Asian countries such as China and Japan. Unlike Ellis Island, the immigrants who entered through Angel Island were often detained for weeks, and the conditions were not pleasant.

4)Sorry I don't know the answer

5)The available evidence suggests that immigration leads to more innovation, a better educated workforce, greater occupational specialization, better matching of skills with jobs, and higher overall economic productivity. Immigration also has a net positive effect on combined federal, state, and local budgets.

What was khilafat movement? /14

Answers

The Khilafat movement or the Caliphate movement, also known as the Indian Muslim movement, was a pan-Islamist political protest campaign launched by Muslims of British India led by Shaukat Ali.

HELP!!!!!

What were George Washington's contributions during the revolution???

Answers

Answer:

I hope it helps you this .

A senator can delay or impede a bill by

Answers

Answer:

Tag-Teaming

Explanation:

'Tag-Teaming' a hold requires at least two senators that want to hold the legislation indefinitely. The first senator (anonymously) places a hold on the legislation, and then, before their name is entered into the record, releases the hold. As a result, Senators can effectively wage (or threaten to wage) a filibuster – in effect, insist on extended debate in order to delay or prevent a final vote on most amendments, bills, or other motions.

Have a great day! :D

Which of the following documents influenced the American colonists to feel that their rights were not being protected. Declaration of Independence
U.S. Constitution
English Bill of Rights
Articles of Confederation

Answers

The U.S constitution didn’t protect their rights.

Answer:

English Bill of rights

Explanation:

Took test pls brainiest :>

What was the source of conflict between the United States and Mexico before 1846?

Answers

Answer:

Annexation of Texas and more.

Explanation:

It stemmed from the annexation of the Republic of Texas by the U.S. in 1845 and from a dispute over whether Texas ended at the Nueces River (the Mexican claim) or the Rio Grande (the U.S. claim).

note: you can also look this up, it is likely much faster than using brainly.

compare one way in which industrialization affected japan and britain in the period 1750-1900

Answers

(KW) japan was by protecting the country from rising imperial powers and britain was by drastic population growth

(KW) japan was by protecting the country from rising imperial powers and britain was by drastic population growth

arrival of Commodore Matthew Perry and his demands scared the Japanese, so to defend themselves they industrialized, adopting Western culture while also protecting their culture

in Britain, agricultural improvements like crop rotation and the seed drill caused a surplus of food and people

led to Japan abolishing feudalism with the Charter Oath and sparked urbanization in Britain

Is the media ever biased? Need it fast!

Answers

Yes, one thousand percent, as all sources have their own independent agendas and ideologies.

Answer:

Well Take news as and example OF COURSE THEY ARE BIASED

Explanation:

What happened in the pig war? please explain in three sentences!

Answers

Answer:

The Pig War was a confrontation in 1859 between the United States and the United Kingdom over the British–U.S. border in the San Juan Islands, between Vancouver Island (present-day Canada) and the State of Washington. The Pig War, so called because it was triggered by the shooting of a pig, is also called the Pig Episode, the Pig and Potato War, the San Juan Boundary Dispute and the Northwestern Boundary Dispute. Despite being referred to as a war, there were no casualties on either side.

Explanation:

hope this helps (:


19. Why did colonists come to Jamestown originally?
O A. To escape religious oppression
O B. To farm tobacco
O To promote religious tolerance
O D. To search for gold

Answers

I believe its A or B but I beilieve it's B because in Jamestown tobacco Farmers were the ones supporting the colony (at least better than any other job in the colony)

Miraculous tales of ladybug and cat noir​

Answers

Hiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
Ladybug and cat noir :)))))

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

Answers

Answer:

serbia and ottoman empire

Explanation:

Which mechanism can Congress use to ensure that the laws it has passed are being properly enforced by the executive branch?
Select one:

holding oversight hearings to expose executive actions to public scrutiny

voting to overturn executive orders that enact policies the public does not support

trimming the budget for executive agencies with a proven track record of waste

refusing to confirm presidential appointments for controversial nominees

Answers

There are ways used by Congress to check the power of the Executive branch of government. mechanism can Congress use is by holding voting to overturn executive orders that enact policies the public does not support.

Congressional Subpoenas is known to be the way of congress in enforcing Executive Branch Compliance.

The Congress often gathers much of the information needed to oversee the implementation of existing laws

They often check if new laws are really needed from the executive branch as they try to overturn an executive order by passing a bill that hinders it.

The Constitution allows the Congress to enact laws that gives them power to oversight by its committees, grant relevant authority to itself and aid agencies.

Learn more about Congressional powers from

https://brainly.com/question/1240231

Answer:holding oversight hearings to expose executive actions to public scrutiny

Explanation:

Question 8 of 10
Which group wanted to lower taxes and cut social programs in the South in
the late 1800s?
A. The Democratic Party
Ο Ο Ο
B. The Republican Party
C. African Americans
O
D. African American churches
SUBMIT

Answer is A the Democratic Party

Answers

Answer:
The Democratic Party
Explanation:
Which group wanted to lower taxes and cut social programs in the South in the late 1800s?
The Democratic Party

How are regional intergovernmental organizations (IGOs) different from
organizations like the United Nations?
A. They are able to pass laws that must be obeyed in all member
states.
B. They are more likely to use military force to achieve members'
objectives.
C. They are more restrictive about which countries may become
members.
D. They are completely independent from member states' political
leaders.

Answers

Answer:

A I think. Not sure cause United Nations is a type of organization for refugees resettling

What is something different Italy and France when they celebrate Christmas

Answers

Answer:

The festive celebrations start after midnight mass. Nowadays, 'Babbo Natale', the Father Christmas, brings presents to children on Christmas eve. But as in true Italian style, gifts are exchanged only on January 6 that is the day of Epiphany. ... Now we wish you 'Buon Natale', that means Merry Christmas in Italian. ( Italy)

Many people in France put up a Christmas tree, visit a special church service, eat an elaborate meal and open gifts on Christmas Eve. Other activities also include walking in a park, participating in city life and sharing a meal with family and close friends. ( France)

Using the timeline, list reasons why Hamilton and Burr would dislike each other.

Answers

Answer:Burr believed that Hamilton was the sole detriment to the rise of his political career, namely. Hamilton had intervened, for Jefferson, in the nasty election of 1800, and had also intervened in the race for the governor of New York later. Both times, Hamilton had ruined Burr's chances. This animosity led Burr to kill Hamilton in 1804.

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

How did Rome ensure its authority ?

Answers

Answer:by getting trade routes

Explanation:did it on edge

PLEASE HELP ME !!!!!

Answers

Judicial branch , Legislative branch , and executive branch

Which of the following responsibilities is NOT held by the Speaker of the House?
Select one:

assigns legislation to committees

casts the deciding vote on legislation

determines the legislative agenda

appoints members to committees

Answers

Answer:

Appoints members to committees

Explanation:

Because it makes sense

What was the main difference between how Japan and China reacted to Western interest in their nations in the late 1800s?

1. Japan closed all of its ports to trade, while China opened.

2. Japan modernized and adopted western ways, while China believed in building on its historic strengths.

3. Japan believed in the strength of its feudal past while China modernized and adopted western traditions.

4. There was no difference

Answers

Answer: 2. Japan modernized and adopted western ways, while China believed in building on its historic strengths.

Explanation:

WILL MARK BRAINLIEST!

Describe the contributions of Galileo and the controversy that he caused with his theories.

Answers

Answer:

It proposed ideas that were contrary to religious teachings.

Explanation:

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