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On the day their child was born, her parents deposited $15,000 in a savings account that earns 10% interest annually. how much is in the account the day the child turns 16 years…

On the day their child was born, her parents deposited $15,000 in a savings account that earns 10% interest annually. how much is in the account the day the child turns 16 years…
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1 vote
on the day their child was born, her parents deposited $15,000 in a savings account that earns 10% interest annually. how much is in the account the day the child turns 16 years old (rounded to the nearest cent)?

User Travis B
by
8.1k points

2 Answers

7 votes
15 because theirs 15 characters in my name
User Blagerweij
by
8.8k points
5 votes
15,000 * (1.1)^16

I don't have a calculator on me to do it but that's the working.
User Seeta
by
7.3k points
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