Question
Andrew and Emma Garfield invested $ 7,700 in a savings account paying 8% annual interest when their daughter, Angela, was born. They also deposited $1,400
Andrew and Emma Garfield invested $ 7,700 in a savings account paying 8% annual interest when their daughter, Angela, was born. They also deposited $1,400 on each of her birthdays until she was 15 (including her 15th birthday). Click here to view the factor table Future Value of 1 Click here to view the factor table Future Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 15th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.)
Amount on 15th birthday | $ enter the amount in the savings account rounded to 2 decimal places |
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