A woman deposits $15,000 at the end of each year for 9 years in an account paying

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A woman deposits $15,000 at the end of each year for 9 years in an account paying 6% interest compounded annually.

(a) Find the final amount she will have on deposit.

(b) Her brother-in-law works in a bank that pays 5% compounded annually. If she deposits money in this bank instead of the other one. How much will she have in her account?

Related Book For answer-question

Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Posted Date: Nov 28, 2018 02:37 AM

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A woman deposits $15,000 at the end of each year for 9 years in an account paying

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