Mr. and Mrs. Steele deposited $8,000 to open a college savings account for their granddaughter...
70.2K
Verified Solution
Link Copied!
Question
Basic Math
Mr. and Mrs. Steele deposited $8,000 to open a college savings account for their granddaughter on the day she was born. The account pays 5% simple interest annually. If they made no other deposits or withdrawals since then, how much money would be in the account after 18 years? A $7,200 B $8,000 C $15,200 D $19,253
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
