Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN: 9780998625720
Author: Lynn Marecek
Publisher: OpenStax College
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A mother invests $7000 in a bank account at the time of her daughter's birth. The interest is compounded quarterly at a rate of 8%. What will be the value of the daughter's account on her twentieth birthday, assuming no other deposits or withdrawals are made during this period?
 
A.$10,920.99
B.$44,800.00
C.$2730.25
D.$34,128.07
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Intermediate Algebra
Algebra
ISBN:9780998625720
Author:Lynn Marecek
Publisher:OpenStax College