Matthew and Kimberly Garfield invested $7,300 in a savings account paying 5% annual interest when their daughter, Debra, was born. They also deposited $2,000 on each of her birthdays until she was 16 (including her 16th birthday). Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 16th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.)

Amount on 16th birthday

$enter a dollar amount rounded to 2 decimal places

eTextbook and Media

Save for Later

Attempts: 0 of 3 used

Submit Answer

Using multiple attempts will impact your score.

Appendix A Q3