When Maria was born, her parents set up a savings account for her with $1000. The account pays 5% annual interest and it is compounded quarterly? How much money will Maria have when she turns 18. Round your answer to the nearest whole number.
+36916 periodic interest in decimal form = .05/4
periods = 18 X4 = 72
1000 ( 1+ .05/4)72 = $ 2446 (SW has the correct answer, but the wrong interest value in his calculations )
