Determining savings and inflation

Assignment Help Accounting Basics

Reference no: EM13115630

A savings account was opened for a baby on 1985 with a $100 deposit. No withdrawls or deposits occurred since the account was opened. The current balance of the account is $246.47. Measured in dollars of the year in which the account was opened,how much has the account grown?

a.) $4.01, gain

b.)7.01, loss

c.) 16.26,gain

d.)20.16, gain

e.) $25.64,gain

Reference no: EM13115630

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