Homework Answers
1st year = 3000 + 10% = 3300
2nd year = (3300 + 3000) + 10% = 6930
3rd year = (6930 + 3000) + 10% = 10923
4th year = (10923 + 3000) + 10% = 15315.3
5th year = (15315.3 + 3000) + 10% = 20146.83
6th year = (20146.83 + 3000) + 10% = 25461.5
At the end of 6 years Rose Arapahoe will have $25,462
4th option.
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