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A woman deposits $15,000 at the end of each year for 7 years in an account paying 3% interest compounded annually. (a) Find the final
A woman deposits $15,000 at the end of each year for 7 years in an account paying 3% interest compounded annually. (a) Find the final amount she will have on deposit. (b) Her brother-in-law works in a bank that pays 2% compounded annually. If she deposits money in this bank instead of the other one, how much will she have in her account? (c) How much would she lose over 7 years by using her brother-in-law's bank? (a) She will have a total of $ on deposit. (Simplify your answer. Round to the nearest cent as needed.) (b) She will have a total of $ on deposit in her brother-in-law's bank. (Simplify your answer. Round to the nearest cent as needed.) (c) She would lose $ over 7 years by using her brother-in-law's bank. (Simplify your answer. Round to the nearest cent as needed.)
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