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On Alyssa's first birthday, her parents deposited $12,500 into a savings account that earns a fixed rate of 8.00% and compounds interest annually. Alyssa's 23
On Alyssa's first birthday, her parents deposited $12,500 into a savings account that earns a fixed rate of 8.00% and compounds interest annually. Alyssa's 23 rd birthday, her account will have accumulated . (Hint: Round your answer to the nearest cent.) What-If scenario If Alyssa's parents had waited until her 10 th birthday to make their initial deposit of $12,500 into the same account, by Alyssa's 23 rd birthday, the balance would have been . (Hint: Round your answer to the nearest cent.)
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