When the Gupta's granddaughter was born recently, they opened a saving account in her name with a deposit of $1000. In addition, they plan to add $100 to the account every quarter up to and including her thirteenth birthday. If the account earns interest at 4% compounded quarterly, how large will her account be when she turns 13?
When the Gupta's granddaughter was born recently, they opened a saving account in her name with a deposit of $1000. In addition, they plan to add $100 to the account every quarter up to and including her thirteenth birthday. If the account earns interest at 4% compounded quarterly, how large will her account be when she turns 13?
When she turns 13, she will have in her account $8,454.58
