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A father opened a savings account for his daughter on the day she was born, depositing $1100. Each year on her birthday he deposits another
A father opened a savings account for his daughter on the day she was born, depositing $1100. Each year on her birthday he deposits another $1100, making that last deposit on her 25th birthday. If the account pays 5.25% interest compounded annually, how much is in the account at the end of the day on his daughter's 25th birthday? How much interest has been earned?
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