Solve the Problem $S = A \left( \frac { ( 1 + r ) ^ { t + 1 } - 1 } { r } \right)$

question 75

Multiple Choice

Solve the problem.
-The formula $S = A \left( \frac { ( 1 + r ) ^ { t + 1 } - 1 } { r } \right)$ models the value of a retirement account, where $A =$ the number of dollars added to the retirement account each year, $r =$ the annual interest rate, and $\mathrm { S } =$ the value of the retirement iccount after t years. If the interest rate is $6 \%$ , how much will the account be worth after 10 years if $\$ 1600$ is added each year? Round to the nearest whole number.

• A) \(\$ 23,955\)
• B) \(\$ 31,519\)
• C) \(\$ 3021\)
• D) \(\$ 17,600\)

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Definitions:

Perineum

The region of the body between the anus and the genitals, present in both males and females.

Peritoneum

A membrane that lines the abdominal cavity and covers most of the abdominal organs, playing a role in their support and protection.

Areola

A ring of darkened skin around the nipple of the breast.

Oocytes

Female reproductive cells, or eggs, which are produced in the ovaries and, when fertilized by sperm, can develop into an embryo.