Your parents started saving for your college on the day you were born. They deposited $1,000 on the day you were born and deposited the same amount on every birthday up to your 18th. If they account paid 9% interest per year, how much was in the account when you leave for college on your 19th birthday? LO1 and LO4

Your parents started saving for your college on the day you were born. They deposited $1,000 on the day you were born and deposited the same amount on every birthday up to your 18th. If they account paid 9% interest per year, how much was in the account when you leave for college on your 19th birthday? LO1 and LO4

$54,431.12

$52,505.91

$50,160.12

$35,253.61