A mother invests $7000 in a bank account at the time of her daughters birth. The interest is compounded quarterly at a rate of 8

Question

A mother invests $7000 in a bank account at the time of her daughters birth. The interest is compounded quarterly at a rate of 8%. What will be the value of the daughters account on her twentieth birthday, assuming no other deposits or withdrawals are made during this period?

Answer 1