Mathematics, 16.11.2019 16:31 johngayden46
On the day their child was born, her parents deposited $25,000 in a savings account that earns 11% 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.
answer choices:
$119,614.74 $132,772.36 $128,612.52 $440,000.00
Answers: 3
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