Question

Luke was born on October 1, 2009. His grandparents put $20,000 into an account that yielded 3% interest compounded quarterly . When Luke turns 17, his grandparents will give him the money for a college education . How much will Luke get on his 17th birthday ?

Answer 1

30,200$

Explanation:

3 times 17 is 51 which is interesting and 1.51 times 20,000 is 30,200$.