P4-23 (similar to)

Question Help

Your grandmother has been putting

$ 1 comma 000$1,000

into a savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of

4 %4%.

How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?The amount in the account upon your 18th birthday is

$nothing.

(Round to the nearest dollar.)