Jon deposits $15,000 in an account that earns 6% interest, compounded annually. No other deposits are made

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Jon deposits $15,000 in an account that earns 6% interest, compounded annually. No other deposits are made to the account. After 10 years, Jon decides to use the investment to purchase a new home. The purchase requires a down payment of $21,500. What is the balance of Jon's account after withdrawing the down payment? (to the nearest dollar)

Posted Date: May 19, 2024 01:11 AM

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Jon deposits $15,000 in an account that earns 6% interest, compounded annually. No other deposits are made

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