Q8

While he is in college, Steve is living in his parent's basement suite. He pays $500 rent at the end of each month. His parents have made him a great offer. If he completes college in two years with a grade average of B or higher, they will give him back all two years worth of rent money asha graduation present. The money is being kept in an account earning j12=3.6% and they will give him the interest too. How much will Steve's graduation present be? Your