Anna placed $8,317 in a savings account today that has

jagguarpaw January 23, 2017 0 Comments

Question: Anna placed $8,317 in a savings account today that…

Anna placed $8,317 in a savings account today that has an annual interest rate of 11 percent, compounded annually. How much will Anna have in this account at the end of 38 years? Assume that all interest received at the end of the year is reinvested the next year.