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Please view the following video before answering this question. Video Example 5.5 Click here to access the TVM Factor Table Calculator On your child's 1
Please view the following video before answering this question. Video Example 5.5 Click here to access the TVM Factor Table Calculator On your child's 1 st birthday, you open an account to fund his college education. You deposit $300 to open the account. Each year, on his birthday, you make another deposit. Each subsequent deposit is 8% larger than the previous. The account pays interest at 5%/ year compounded annually. How much money is in the account immediately after the deposit on his 18 th birthday? \$ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is \pm 50
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