Put some money in an account

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Reference no: EM131978922

Your grandfather put some money in an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $5,318 in it and pays a 8% interest rate.

a. How much money would be left in the account if you left the money in there until your twenty-fifth birthday?

b. What if you left the money there until your sixty-fifth birthday?

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

Reference no: EM131978922

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