Question

Assume that you put $947.71 in an account that earns simple interest at a 14.7 percent annual rate. How much is in your account after 18 years from now?

Answer 1

	Pricipal	rate	interest	total
1	947.71	0.147	139.3134	1087.023
2	1087.023	0.147	159.7924	1246.816
3	1246.816	0.147	183.2819	1430.098
4	1430.098	0.147	210.2244	1640.322
5	1640.322	0.147	241.1273	1881.449
6	1881.449	0.147	276.5731	2158.023
7	2158.023	0.147	317.2293	2475.252
8	2475.252	0.147	363.862	2839.114
9	2839.114	0.147	417.3497	3256.464
10	3256.464	0.147	478.7001	3735.164
11	3735.164	0.147	549.0691	4284.233
12	4284.233	0.147	629.7822	4914.015
13	4914.015	0.147	722.3602	5636.375
14	5636.375	0.147	828.5472	6464.922
15	6464.922	0.147	950.3436	7415.266
16	7415.266	0.147	1090.044	8505.31
17	8505.31	0.147	1250.281	9755.591
18	9755.591	0.147	1434.072	11189.66