Question
On your first through fifth birthdays your parents placed $2,000 into your college fund (five total...
On your first through fifth birthdays your parents placed $2,000 into your college fund (five total deposits of $2,000 each). The account has earned an average of 8.5% per year until today, your twenty-first birthday. How much money is in the account today?
A) $11,733.20
B) $37,219.70
C) $43,714.09
D) $42,383.41
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Answer #1
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