# Kai Chang made a $2,000 deposit in her savings account on her 21st birthday, and she has made another $2,000

## Question:

Kai Chang made a $2,000 deposit in her savings account on her 21st birthday, and she has made another $2,000 deposit on every birthday since then. Her account earns 7 percent compounded annually. How much will she have in her account after she makes the deposit on her 32^{nd} birthday?

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**Related Book For**

## Foundations Of Financial Management

**ISBN:** 9781264097623

18th Edition

**Authors:** Stanley Block, Geoffrey Hirt, Bartley Danielsen

**Question Details**

Chapter #

**9**- Time Value of MoneySection: Problem

Problem: 20

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