Asked by Annie
on the day Rachel was born, her grandparents deposited $ 500 into a savings account that earns 4.8%/a compounded monthly . They deposited the same amount on her 5th, 15th, and 10th birthdays. determine the balance in the account on Rachel's 18th birthday
Answers
Answered by
Reiny
amount = 500[ ( 1.004)^216+1.004^156 + 1.004^96 + 1.004^36 ]
= .....
= .....
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.