+0  
 
0
23
1
avatar

When Maria was born, her parents set up a savings account for her with $1000. The account pays 5% annual interest and it is compounded quarterly? How much money will Maria have when she turns 18. Round your answer to the nearest whole number.

 Sep 6, 2021
 #1
avatar+34302 
+1

  Periods = 4 x 18 = 72

  interest per period  .05 / 4

 

1000 ( 1+ .05/4)72      reperesents the money when she turns 18

 Sep 6, 2021

47 Online Users

avatar