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Kai Chang made a $4,600 deposit in her savings account on her 21 st birthday, and she has made another $4,600 deposit on every birthday
Kai Chang made a $4,600 deposit in her savings account on her 21 st birthday, and she has made another $4,600 deposit on every birthday since then. Her account earns 8 percent compounded annually. How much will she have in the account after she makes the deposit on her 32 nd birthday? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. Note: Do not round intermediate calculations. Round your final answer to 2 decimal places
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