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Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter was born. If the money remains in the saving acc…

Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter was born. If the money remains in the saving acc…
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Mr. And Mrs ikan deposited $15,000 into college savings accounts with an annual compound interest rate 5.25% when their daughter was born. If the money remains in the saving account until she is 18 , what will be the total amount in the account ?

asked
User Claritza
by
7.7k points

1 Answer

1 vote

Answer:

$37,650

Explanation:

A=15000(1+0.0525)^18

A=15000(2.51)

A=37650

answered
User Bryce Chan
by
8.0k points
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