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

use the power rule  

( a b ) n = a n b n

to distribute the exponent.

apply the product rule to  

3 x 2 y 3 . ( 3 x 2 ) 2 ( y 3 ) 2

apply the product rule to  

3 x 2 . 3 2 ( x 2 ) 2 ( y 3 ) 2

raise  

3

to the power of  

2 . 9 ( x 2 ) 2 ( y 3 ) 2 multiply the exponents in   ( x 2 ) 2

.

apply the power rule and multiply exponents,  

( a m ) n = a m n . 9 x 2 ⋅ 2 ( y 3 ) 2

multiply  

2   by   2 . 9 x 4 ( y 3 ) 2

multiply the exponents in  

( y 3 ) 2 .

apply the power rule and multiply exponents,  

( a m ) n = a m n . 9 x 4 y 3

⋅

2

multiply  

3   by   2 . 9 x 4 y 6

step-by-step explanation:

c 1 hour

step-by-step explanation:

m = 2e

m = 2 so 2 = 2e

1 = e