Wayne and Brenda Anderson invested $5,000 in a savings account paying 5% compound annual interest when their

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Wayne and Brenda Anderson invested $5,000 in a savings account paying 5% compound annual interest when their daughter, Sue, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). How much will be in the savings account on her 18th birthday (after the last deposit)?

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Financial Accounting

ISBN: 978-0470507018

7th Edition

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

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