Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bridgette's grandparents opened a savings account for her and placed $700 in the account. The account pays 3.5% interest. Bridgette wants to be a singer
Bridgette's grandparents opened a savings account for her and placed $700 in the account. The account pays 3.5% interest. Bridgette wants to be a singer and she has her heart set on a new karaoke machine. The machine costs $200. How much less will the account be worth in terms of future value in 8 years if she buys the karaoke machine now versus leaving the account untouched?
- A. $200
- B. $151.88
- C. $658.40
- D. $263.36
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started