Question
Your grandmother has been putting $3,000 into a savings account on every birthday since your first (that is, when you turned 1). The account pays
Your grandmother has been putting $3,000
into a savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of 3%.
How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
2nd Edition
0324289235, 9780324289237
