Question: Question 1 Not yet answered An author signs a 15 year contract where she will receive an annual allowance based on the number of books

 Question 1 Not yet answered An author signs a 15 year

Question 1 Not yet answered An author signs a 15 year contract where she will receive an annual allowance based on the number of books that she has written. For each book she will receive $700 per year. She decides to invest all of this money in an account that has an interest rate of 5% that compounds annually. She has already written 11 books, so she will receive the first payment one year from now for $7700. Each year she will write one extra book. Thus her second payment will be $8400, etc. How much money will be in her account at the end of the contract after the last payment has been deposited? Marked out of 1.00 Flag question Answer to 2 decimal places. Note: this is money being deposited into an account, so you really are expected to get it correct to the nearest cent

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