SOLUTION: Shana put $25,000 in an education
account on the day her daughter was born. If the account earned 6.65% interest
compounded quarterly, what was the total
in the account when her
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-> SOLUTION: Shana put $25,000 in an education
account on the day her daughter was born. If the account earned 6.65% interest
compounded quarterly, what was the total
in the account when her
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Question 1111259: Shana put $25,000 in an education
account on the day her daughter was born. If the account earned 6.65% interest
compounded quarterly, what was the total
in the account when her daughter turned
18? Round the final answer to the nearest
cent. Found 2 solutions by mananth, ikleyn:Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Shana put $25,000 in an education
account on the day her daughter was born. If the account earned 6.65% interest
compounded quarterly, what was the total
in the account when her daughter turned
18?
A=P*(1+0.0665)^n
A= 25000*(1.016625)^(18*4)
A= $81,943.89 after 18 years
You can put this solution on YOUR website! .
Shana put $25,000 in an education account on the day her daughter was born.
If the account earned 6.65% interest compounded quarterly, what was the total
in the account when her daughter turned 18?
Round the final answer to the nearest cent.
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