MATH 1324 Fall 2022 COAT Assessment - Communication In this assignment you will work through the following scenario and then explain how you reached your conclusion as if explaining to a friend who is not enrolled in a Math for Business and Social Sciences course. Instructions: Analyze the following problem.

Dawn invests $2000 each year for 15 consecutive years, starting at age 25. Assume an 8% annual rate of return with annual compounding. After age 40 she no longer adds to the account, but the money continues to compound. How much will Dawn have accumulated by age 65?

Use the steps below to help you reach a conclusion. a. Calculate Dawns out-of-pocket amount. b. How much will Dawn have in her account after 15 years? c. How much will Dawn have accumulated at age 65?

Write at least one paragraph explaining to a friend how you solved this problem. Explain to your friend what led you to choose the formula or formulas. Be sure to name and describe the formula or formulas needed, list all variables from the formulas, and assign a value to each variable. Use complete sentences with proper grammar, terminologies, and correct spelling.