Question
Question 1 When you were born your grandmother set up a bank account in your name with an initial deposit of $1000. The account earned
Question 1 When you were born your grandmother set up a bank account in your name with an initial deposit of $1000. The account earned 7.2% for the first 5 years, 4% for the next 3 years, and 6.5% for the 2 years after that, then the account generated 10.5% for 5 years, and 9% for another 5 years. i) How much money was in the bank account on your 15th birthday? ii) How much money is in the bank account today (your 20th birthday)? iii) If your grandmother had decided to deposit another $1000 dollars on your 15th birthday how much money would be in your bank account today?
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