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Since Your First Birthday,your Grandparents Have Been Depositing $1000 into a Savings

Question 50

Multiple Choice

Since your first birthday,your grandparents have been depositing $1000 into a savings account on every one of your birthdays.The account pays 4% interest annually.Immediately after your grandparents make the deposit on your 18th birthday,the amount of money in your savings account will be closest to:


A) $25,645.
B) $36,465.
C) $12,659.
D) $18,000.

Correct Answer:

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