Question

Darcy keeps $5,000 in a bank account that does

not earn any interest. Every week, she
withdraws 10 percent of the money in the
account for spending. To the nearest cent, how
much has she withdrawn in total after 8 weeks?
A) $2,610.78
B) $2,638.05
C) $2,755.28
D) $2,847.66​

Answer 1

Amount withdrawal = $2,847.66 (Approx)

Explanation:

Given:

Amount deposit = $5,000

Withdraws percent = 10 % = 0.1

Number of weeks = 8

Find:

Amount withdrawal

Computation:

Amount withdrawal = 5,000[1-(0.1)⁸]

Amount withdrawal = 5,000[0.56953279]

Amount withdrawal = $2,847.66 (Approx)