Question

Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake café venture. She is presently depositing $1,800 a year in a regular savings account. Calculate the future value of these deposits.

Answer 1

Answer: 16,200,000

Step-by-step explanation: divide both numbers

Answer 2

The future value of her deposit would be in 5 years.

The total amount needed to start a cupcake cafe venture

= $9,000

Deposit per year = $1,800

Therefore, if $1,800 = 1 year

$9,000 = X

$x = \frac{9000}{1800}$

$x = 5$

Therefore in 5 years, Jamie Lee would be able to start her cupcake café venture.

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