SOLUTION: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest, compounded annually. How much will be in the account on the child’s 17th birthday?
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Question 1164043: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest, compounded annually. How much will be in the account on the child’s 17th birthday? Answer by ikleyn(52781) (Show Source):
