To pay for her college education, Salma is saving $2,000 at the beginning of each...

60.1K

Verified Solution

Question

Finance

image

To pay for her college education, Salma is saving $2,000 at the beginning of each year for the next eight years in a bank account paying 12 percent interest. How much will salma have in that account at the end of 8th year? Select one: O a. $27,551 b. $9,935 o C. $11,128 O d. $24,599

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