How much money did grandfather originally put into account

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Reference no: EM132072068

1. If your bank pays you 1.3% interest and you deposit $850 today, what will be your balance in five years?

2. Your grandfather put some money into an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money. The account currently has $7,353 in it and pays an interest rate of 5%.

a. How much money would be in the account if you left the money there until your 25th birthday?

b. What if you left the money until your 65th birthday?

c. How much money did your grandfather originally put into the account?

a. How much money would be in the account if you left the money there until your 25th birthday?

Reference no: EM132072068

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