Register
Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter was born. If the money remains in the saving account until she is 18 , what
115k views
4 votes
Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter was born. If the money remains in the saving account until she is 18 , what will be the total amount in the account ?

User Claritza
by
7.9k points

1 Answer

1 vote

Answer:

$37,650

Explanation:

A=15000(1+0.0525)^18

A=15000(2.51)

A=37650

User Bryce Chan
by
8.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.1m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!