At the time of her grandson's birth, a grandmother deposits $ 2000 in an account that pays 3.5 % compounded monthly. what will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
the value of the account will be =
(round to the nearest dollar as needed.)

The value of the account will be $4166.85.

Step-by-step explanation:

p = 2000

r = 3.5% or 0.035

t = 21

n = 12

Compound interest formula is :

Now putting the values in the formula we get;

=>

Amount = $4166.85

Hence, The value of the account will be = $4166.85

step-by-step explanation:

step-by-step explanation:

first, eliminate the parenthesis:

3

x

+

2

−

4

x

second, group like terms:

3

x

−

4

x

+

2

third, combine like terms:

(

3

−

4

)

x

+

2

→

−

1

x

+

2

→

−

x

+

2