## college101 2 years ago A grandmother deposited $5,000 in an account that pays 5% per year compounded annually when her granddaughter was born. What will the value of the account be when the granddaughter reaches her 14th birthday? a)$9,879.66 b) $9,869.66 c)$9,899.66 d) $9,929.66 e)$9,889.66 f) None of the above.

1. tkhunny

$$5,000\cdot 1.05^{14}$$?

2. tkhunny

What did you get? Was there anything about that little formula that you could not have done on your own? Let's see another one and show your work.

3. college101

c) \$9,899.66

4. tkhunny

Sweet. What else have you?