At the time of her grandson's birth, a grandmother deposits $2000 in an account that pays 6.5% compounded monthly. What will be

Question

3 years ago

14

the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?

1 answer:

Minchanka [31] · Answer 1 · 2022-03-13T18:49:29+03:00

7 0

Answer:

$41, 863. 50

Step-by-step explanation:

$2000 - 6.5% = $1,993.50

$1,993.50 x 21 = $41, 863. 50

At the time of her​ grandson's birth, a grandmother deposits $2000 in an account that pays 6.5% compounded monthly. What will be