SOLUTION: At the time of her​ grandson's birth, a grandmother deposits $10,000 in an account that pays 3% compounded monthly. What will be the value of the account at the​ child's twenty

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Question 1175044: At the time of her​ grandson's birth, a grandmother deposits $10,000 in an account that pays 3% compounded monthly. What will be the value of the account at the​ child's twenty-first​ birthday, assuming that no other deposits or withdrawals are made during this​ period?
The value of the account will be ​$

Answer by Solver92311(821) About Me  (Show Source):
You can put this solution on YOUR website!


Future Value:
Present Value:
Annual Interest Rate (as a decimal):
Number of compounding periods per month:
Number of years of the investment:



Plugin the numbers and do the arithmetic.

John

My calculator said it, I believe it, that settles it

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