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Current stuums On January 1,2020 a graduate student named Wong, opened a savings account which would provide enough money at the end of his graduate
Current stuums On January 1,2020 a graduate student named Wong, opened a savings account which would provide enough money at the end of his graduate work (January 1, 2025) to open a business of his own. His plan was to deposit $5,000 per year for 5 years at the BEGINNING of each year (starting immediately), into an account paying 5% compounded annually. His activities proceeded according to his plan except that at the END of 2023 he withdrew $2,000 for a vacation and at the END of 2024 he withdrew $2,000 to pay costs related to his dissertation. How much does Wong have in her account, January 1, 2025? 29.009.56 24,909.56 25,000
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