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29. Suppose that a landlord is interested in renting out a two-bedroom apartment for $1000 a month for the next year. While the landlord requires
29. Suppose that a landlord is interested in renting out a two-bedroom apartment for $1000 a month for the next year. While the landlord requires rent to be paid at the beginning of the month, he will not be depositing the rental check into a local savings account until the end of each month. If the annual interest that the landlord can earn on this account is 5% and interest is compounded monthly, how much will the landlord have in his savings account at the end of the year? A. $12,278.86 B. $12,613.94 C. $13,330.02 D. $15,917.13
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