$35,000 to invest in a saving account. She receives a steady interest rate of 2.15% compunded monthly. She would like to save for the next 20 years and then take her money out. What would be her balace at the end of the 20 years? $35,000.50 $50,050.00 $15,050.50 $53,783.3

$35,000 to invest in a saving account. She receives a steady interest rate of 2.15% compunded monthly. She would like to save for the next 20 years and then take her money out. What would be her balace at the end of the 20 years? $35,000.50 $50,050.00 $15,050.50 $53,783.3

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section: Chapter Questions

Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...

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Question

Hailie has $35,000 to invest in a saving account. She receives a steady interest rate of 2.15% compunded monthly. She would like to save for the next 20 years and then take her money out. What would be her balace at the end of the 20 years?

$35,000.50

$50,050.00

$15,050.50

$53,783.32

Expert Solution