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Mathematics, 02.02.2020 22:50, marc9848
on the day their child was born, her parents deposited $20,000 in a savings account that earns 10% interest annually. how much is in the account the day the child turns 16 years old (rounded to the nearest cent)?
hint: an = a1(1 + r)n, r ≠1, where a1 is the initial amount deposited and r is the common ratio or interest rate.
$32,000.00
$90,031.50
$85,613.50
$91,899.46
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Answers: 3
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