Question

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 ?

Answer 1

$37,650

Explanation:

A=15000(1+0.0525)^18

A=15000(2.51)

A=37650