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Question 9 Difficulty: Il When Michael is born, four uncles decide to save money for his future in different ways: Uncle A: He deposits $50
Question 9 Difficulty: Il When Michael is born, four uncles decide to save money for his future in different ways: Uncle A: He deposits $50 on Michael's first birthday, and every subsequent birthday. Uncle B: He deposits \$15 on Michael's first birthday, and every subsequent birthday he deposits $5 more than the previous year. Uncle C: He deposits $40 on Michael's first birthday, and every subsequent birthday he deposits 5% more than the previous year. Uncle D: At Michael's birth he deposits $300 in a savings account which offers 2.7% annual interest compounded quarterly. By the time Michael is 21 years old, which uncle has saved the most money for him
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