Mathematics, 28.01.2020 08:31 kelsiee24

On the day their child was born, her parents deposited $30,000 in a savings account that earns 9% interest annually. how much is in the account the day the child turns 16 years old (rounded to the nearest cent)?

hint: an = a1(1 + r)n, r ≠ 1, where a1 is the initial amount deposited and r is the common ratio or interest rate.

these are the options
a. $109,274.47
b. $118,031.52
c. $119,109.18
d.$523,200.00

Answers: 2

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