On John’s 26th birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited $100 less than the previous year. Determine how much was in the account immediately after his 40th deposit with an accounted earned annual interest of 8%. 

a. Draw the CFD that illustrates this investment. 

b. What is the value of the account after the 40th deposit?

Answer rating: 100% (QA)

ANSWER Interest earned on savings is the money earned when you place it in a savings account Its important to know how to calculate it so you can comp... View the full answer