Question
Your grandmother has invested $8000 in a mutual fund each year on your birthday (she made her first payment when you turned 1 year old).
Your grandmother has invested $8000 in a mutual fund each year on your birthday (she made her first payment when you turned 1 year old). The mutual fund has grown at an annual interest rate of 6.8%. How much is your account worth on the day of your 21st birthday immediately after your grandmothers deposit?
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Financial Management For Nurse Managers And Executives
Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner, Jason Mose
5th Edition
0323415164, 9780323415163
