7 carol will open a savings account for her grandson. she will deposit $1000 in an account that earns 2.5%…

7 carol will open a savings account for her grandson. she will deposit $1000 in an account that earns 2.5% interest compounded annually. her grandson can withdraw the money from the account after 18 years. how much more will be in the account if he waits 21 years instead of 18 years?

7 carol will open a savings account for her grandson. she will deposit $1000 in an account that earns 2.5% interest compounded annually. her grandson can withdraw the money from the account after 18 years. how much more will be in the account if he waits 21 years instead of 18 years?

Answer

Explanation:

Step1: Usar fórmula de interés compuesto

La fórmula de interés compuesto es $A = P(1 + r)^t$, donde $P$ es el principal ($P = 1000$), $r$ es la tasa de interés anual ($r=0.025$), y $t$ es el número de años.

Step2: Calcular el monto después de 18 años

Sustituir $P = 1000$, $r = 0.025$ y $t = 18$ en la fórmula: $A_{18}=1000(1 + 0.025)^{18}$. $A_{18}=1000\times1.025^{18}\approx1000\times1.559693418\approx1559.69$.

Step3: Calcular el monto después de 21 años

Sustituir $P = 1000$, $r = 0.025$ y $t = 21$ en la fórmula: $A_{21}=1000(1 + 0.025)^{21}$. $A_{21}=1000\times1.025^{21}\approx1000\times1.683692807\approx1683.69$.

Step4: Calcular la diferencia

Restar el monto de 18 años del monto de 21 años: $A_{21}-A_{18}=1683.69 - 1559.69 = 124$.

Answer:

124