Asked by Trish Goal
When Frederick was born, his grandparents gave hime a gift of $2000, which was invested at an interest rate of 5% per year, compounded yearly. How much money will Frederick have when he collects the money at the age of 18? gGive your answer to the nearest hundreth of a dollar.
Answers
Answered by
Steve
2000(1+.05)^18
Answered by
Trish Goal
Is this answer right? 4183.24
Answered by
LOL
It is invested compoundly
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