Your grandmother put some money in an account for you on the day you were born. This account pays 8% interest per year. On your 21st birthday the account balance was $5033.83. The amount of money that your grandmother originally put in the account is closest to: A) $600. B) $800. C) $1000. D) $1200.

C. $1,000

Explanation:

The computation amount is shown below:-

Interest rate per period = Interest rate per annum ÷ Number of compounding per annum

= $8.00 ÷ 1

= 8%

Number of periods = Number of years × Number of compounding per annum

= 21 × 1

= 21

Present value = Future value × (1 ÷ (1 + rate of interest)^number of years)

= $5033.83 × (1 ÷ (1 + 8%)^21)

= $5033.83 × (1 ÷ (1.08)^21

= $5033.83 × (1 ÷ 5.033833715 )

= $5033.83 × 0.198655748

= 0.999999262

= $1,000

Therefore for computing the present value we simply applied the above formula.

someone i feel is a leader in my life id have to say would be my mother because she has give me great advice in life and got me out of tough situations. some characteristics she has are creativity, honesty, commitment, respect for others, and communication. one example of a situation when she demonstrated leadership was when i was working late on homework and i started to get stressed and got upset, she asked me if i needed some , and she me with my work. she demonstrated communication and commitment.

i don't know if this is exactly what your looking for but i hope this !

answergoing to the symphony;