Asked by Hector
Eric deposted $32,000 in a savings account to save for his children's college education. The bank pays 8% tax-deferred interest per year compounded quarterly. How much will his account be worth at the end of 18 years?
32,000(1.02)^72=$113,156.50
Is this correct?
32,000(1.02)^72=$113,156.50
Is this correct?
Answers
Answered by
Reiny
I got 133,156.50 , you probably hit a wrong key when you typed it.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.