Since then rates have been only 4 now you are 21 years old, Financial Management

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Since then rates have been only 4 now you are 21 years old

Question

Your wealthy uncle established a $ 1,000 bank account for you when you were born. For the first 8 years of your life, the interest rate earned on the account was 6%.

Since then, rates have been only 4%. Now you are 21 years old and ready to cash in. How much is in your account?

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Financial Management: Since then rates have been only 4 now you are 21 years old

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Financial Management: Since then rates have been only 4 now you are 21 years old

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