Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a grandmother deposited $4,000 in an account that

A grandmother deposited $4,000 in an account that pays 8% per year compounded annually when...

60.1K

Verified Solution

Question

Accounting

A grandmother deposited $4,000 in an account that pays 8% 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) $10,858.49

b) $10,848.49

c) $10,878.49

d) $10,888.49

e) $10,868.49

f) None of the above.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

A project requires an initial investment of $100,000 and is expected to produce a cash inflow...

Medical Sciences
1.2K views

Describe how an action potential propagates along a myelinated and an unmyelinated axon, including how the...

Psychology
1.2K views

paraphrase positive leadership and give an example in your on word.

Basic Math
1.2K views

Kamini, a student of the 1-Year post graduate program at the International School of Business and...

Basic Math
1.2K views

4 4 0 4 y 0x00 X

Calculus
1.2K views

Watch help video Evaluate d 3x5 t2 2t dt

Algebra
1.2K views

A graphing calculator is recommended A company s marginal cost function is MC x 28e...

Accounting
1.2K views

Rhonda Brennan found her first job after graduating from college through the classifieds of the...

Accounting
1.2K views

Points out of 1.00 The following units of an inventory item were available for sale...

Accounting
1.2K views

How was the Emancipation Proclamation an example of a military strategy, diplomatic maneuvering, and social...

Accounting
1.2K views

Consider the following graph, which plots the partial sums Sn=k=0nak for sum series k=0ak. (a)...

Accounting
1.2K views

Assume that Ivanhoe Corp. earned net income of $3,500,000 during 2026. In addition, it had...