Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kai chang made a $4,600 deposit in her savings acc

Kai Chang made a $4,600 deposit in her savings account on her 21 st birthday,...

60.1K

Verified Solution

Question

Accounting

image Kai Chang made a $4,600 deposit in her savings account on her 21 st birthday, and she has made another $4,600 deposit on every birthday since then. Her account earns 8 percent compounded annually. How much will she have in the account after she makes the deposit on her 32nd birthday? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

20 Identify the coordinates of the center the vertices foci and the equation of the...

Geometry
Q

A healthy college student from Boston went to Colorado over Spring Break for a vacation. While...

Medical Sciences
Q

    A) What is the difference between datum, datum simulator and datum feature? Illustrate by example. B)....

Mechanical Engineering
Q

take x 3 00 g 10 m s 2 1 41 A spring of force...

Physics
Q

6 y 110 2 I 100 870 17 89 50 18 80 62 950 t...

Geometry
Q

Which of the following is NOT a characteristic of all parallelograms?a) Diagonal bisect each otherb)...

Basic Math
Q

Answering calcPad Questions VebAssign calcPad questions are displayed with a rectangular answer box similar to...

Calculus
Q

Solve the equation p 10p 0 Enter any solution as an integer or reduced fraction...

Algebra
Q

(a) ReCola manufactures regular cola and cherry cola drinks using a joint production process. The...

Accounting
Q

Question 2 Your answer is partially correct. Try again. Here are selected 2018 transactions of...

Accounting
Q

At the end of the current year, the owners' equity in Durante Co. is $366,000....

Accounting
Q

Question 5 4 pts Stability is a risk management goal a loss O before O...

Finance