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?
1 answer
I got 133,156.50 , you probably hit a wrong key when you typed it.
1 answer