SOLUTION: In 2000, tom deposited $10,000 in a college fund account that pays 4.5% interest annually. Approximately how much will the account balance be in 2018

SOLUTION: In 2000, tom deposited $10,000 in a college fund account that pays 4.5% interest annually. Approximately how much will the account balance be in 2018

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Question 881413: In 2000, tom deposited $10,000 in a college fund account that pays 4.5% interest annually. Approximately how much will the account balance be in 2018
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=10000(1.045)^18
FV=10000(1.55297)
FV=$15,530.00
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