At the time of hergrandson's birth, a grandmother deposits $5000 into an account that pays 8.5% compounded

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At the time of hergrandson's birth, a grandmother deposits $5000 into an account that pays 8.5% compounded monthly. What will be the value of the account on thechild's twenty-firstbirthday, assuming that no other deposits or withdrawals are made during thisperiod?

Posted Date: Jun 08, 2024 09:20 AM

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At the time of hergrandson's birth, a grandmother deposits $5000 into an account that pays 8.5% compounded

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