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Your grandmother has been putting $3,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays
Your grandmother has been putting $3,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 11%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $ (Round to the nearest dollar.) You have an investment account that started with $3,000 10 years ago and which now has grown to $12,000. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the savings bond earns 17% per year from now on, what will the account's value be 10 years from now? a. What annual rate of return have you earned (you have made no additional contributions to the account)? Your annual rate of return is 15 %. (Round to two decimal places.) b. If the savings bond earns 17% per year from now on, what will the account's value be 10 years from now? The account's value in ten years will be $. (Round to the nearest cent.)
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