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Andrew and Emma Garfield invested $8,000 in a savings account paying 5% annual interest when their daughter, Angela, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). Click here to view the factor table 1. Table 2 Table 3 Table 4 How much was in the savings account on her 18th birthday (after the last deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.24571. Round answer to 2 decimal places, e.g. 25.25.) Amount on 18th birthday $ eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer

Andrew and Emma Garfield invested $8,000 in a savings account paying 5% annual interest when their daughter, Angela, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). Click here to view the factor table 1. Table 2 Table 3 Table 4 How much was in the savings account on her 18th birthday (after the last deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.24571. Round answer to 2 decimal places, e.g. 25.25.) Amount on 18th birthday $ eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Andrew and Emma Garfield invested $8,000 in a savings account paying 5% annual interest when their daughter, Angela, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). Click here to view the factor table 1. Table 2 Table 3 Table 4 How much was in the savings account on her 18th birthday (after the last deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.24571. Round answer to 2 decimal places, e.g. 25.25.) Amount on 18th birthday $ eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer
Transcribed Image Text:Andrew and Emma Garfield invested $8,000 in a savings account paying 5% annual interest when their daughter, Angela, was born. They also deposited $1,000 on each of her birthdays until she was 18 (including her 18th birthday). Click here to view the factor table 1. Table 2 Table 3 Table 4 How much was in the savings account on her 18th birthday (after the last deposit)? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.24571. Round answer to 2 decimal places, e.g. 25.25.) Amount on 18th birthday $ eTextbook and Media Save for Later Attempts: 0 of 4 used Submit Answer
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