Question: Terwilliger received 12 345 for his services as financial consultant to
Terwilliger received $12,345 for his services as financial consultant to the mayor’s office of his home-town of Springfield. Bob says that his consulting work was his civic duty and that he should not receive any compensation. So, he has invested his paycheck into an account paying 3.98 percent annual interest and left the account in his will to the city of Springfield on the condition that the city could not collect any money from the account for 200 years. How much money will the city receive from Bob’s generosity in 200 years?
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