When Katie was born her mother invested $5000 in an account for her college savings. The interest rate is 3.5% compounded annually. To represent this, we can use the formula V = 5000 (1 + r) t where r represents the interest rate and t represents the time in years. How much will Katie have in her account when she turns 18? A) $5,175 B) $7,127 C) $9,287 D) $12,472
+2
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When Katie was born her mother invested $5000 in an account for her college savings. The interest rate is 3.5% compounded annually. To ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Mathematics » When Katie was born her mother invested $5000 in an account for her college savings. The interest rate is 3.5% compounded annually.