Terry and Jessica Benedict invested $6,000 in a savings account paying 4% annual interest when their daughter,

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Terry and Jessica Benedict invested $6,000 in a savings account paying 4% annual interest when their daughter, Kristi, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). How much was in the savings account on her 18th birthday (after the last deposit)?

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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