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Ince your birth​, your grandparents have been depositing $ 110 into a savings account every month. the account pays 1212​% interest annually. immediately after your grandparents make the deposit on your 18th​ birthday, the amount of money in your savings account will be closest​ to:

Answer :

AtomicLeamur
If i read this correctly the amount of money at the end of 18 years should be $23,997.60

Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this examplee P = $110, i = 1212% and t = 18 years, so

III=P⋅i⋅t=110⋅12.12⋅18=23997.6

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