A father opened a savings account for his daughter on her first birthday, depositing $1000. Each year
Question:
A father opened a savings account for his daughter on her first birthday, depositing $1000. Each year on her birthday he deposits another $1000, making the last deposit on her 21st birthday. If the account pays 1.5% interest compounded annually, how much is in the account at the end of the day on the daughter’s 21st birthday?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
To calculate the amount in the savings account at the end of the daughters 21st birthday we can brea...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
4+ Reviews
10+ Question Solved
Related Book For 
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
Question Posted:
