Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

college101 Group Title

i got 7651.823 instead of what's in the answer choices, so what am i doing wrong? A grandmother deposited $4,000 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 13th birthday? a) $7,552.60 b) $7,502.60 c) $7,562.60 d) $7,542.60 e) $7,582.60

  • one year ago
  • one year ago

  • This Question is Closed
  1. mwilliamson Group Title
    Best Response
    You've already chosen the best response.
    Medals 0

    FutureValue = StartingValue(r/n +)nt FutureValue = future value of the investment StartingValue = Starting deposit r = interest rate n = times annually interest is compunded t = years of the investment total value including interest . $7542.60

    • one year ago
  2. college101 Group Title
    Best Response
    You've already chosen the best response.
    Medals 0

    i don't get why you wrote +)nt in the formula. what are you adding with?

    • one year ago
    • Attachments:

See more questions >>>

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.