On the day your daughter is born, you deposit ($ 1,000) in a college savings WILEY (oplus)
Question:
On the day your daughter is born, you deposit \(\$ 1,000\) in a college savings WILEY \(\oplus\) account that earns 8 percent compounded annually. On each of her birthdays thereafter, up to and including her eighteenth birthday, you deposit an additional \(\$ 1,000\). How much money is in the college account the day after her eighteenth birthday?
a. \(\$ 37,450\)
b. \(\$ 38,950\)
c. \(\$ 41,450\)
d. \(\$ 46,800\)
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Related Book For 
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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