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13. Harry Potter was very impressed with the education he received at Hogwarts. He would like to give them a meaningful gift, but doesn't have
13. Harry Potter was very impressed with the education he received at Hogwarts. He would like to give them a meaningful gift, but doesn't have a lot of money right now, fighting evil wizards and new wands has drained his bank account. He decides that he will open a new account at Gringotts for this purpose. Gringotts has promised to pay him 9% interest compounded annually. Harry will leave this gift to Hogwart's upon his death. Assuming that he lives another 70 years, deposits $ 1,440 in the account today, and the account earns 9% interest per year, how much will Hogwart's get in 70 years? (rounded to the nearest 1,000) a. $1,000,000 b. $67,000 c. $187,000 d. $600,000
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