On the day that Tony was born his grandmother invested $500 in a certificate of deposit that pays a 5% interest rate compounded annually. How much money will there be in the account on his 18th birthday? Round the answer to the nearest $10.

On the day that Tony was born his grandmother invested $500 in a certificate of deposit that pays a 5% interest rate compounded annually. How much money will there be in the account on his 18th birthday? Round the answer to the nearest $10.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section: Chapter Questions

Problem 69SGR

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On the day that Tony was born his grandmother invested $500 in a certificate of deposit that pays a 5% interest rate compounded annually.

How much money will there be in the account on his 18th birthday? Round the answer to the nearest $10.

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