Question

In 2010 Staci invested $15,500 in a savings account for her newborn son. The account pays 2.7% interest each year. Determine the accrued value of the account in the year 2028, when her son will go to college. Round your answer the nearest cent.

In the year 2028, the accrued value will be $

Answer 1

In the year 2028, the accrued value will be $23,033