Question

At the time of her grandson's birth, a grandmother deposits 11,000 in an account that pays 5.5% compounded monthly. What will be the value of the account at the xhild's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
round to the nearest dollar​

Answer 1

Answer:15,605

Step-by-step explanation:4000(1+.065/12)^21*12

4000(1+0054)^252