Asked by Kaci

Suppose you deposited $1500 into an account paying 3.5% interest compounded annually when your child was first born. Find the account balance when your child turns 18.

What formula would I use to solve this. I do NOT want the answer.

Thanks!
Answered by Anonymous
v=mv+b
Answered by Patrick Kimani
FV = PV(1 + r/n)^nt
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