Gilberto opened a savings account for his daughter and deposited $700 on the day she was born. Each year on her birthday, he deposited another $700. If the account pays 9.5% interest, compounded annually, how much is in the account at the end of the day on her 12th birthday? At the end of the day on her 12th birthday, the amount in the account is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)
Gilberto opened a savings account for his daughter and deposited $700 on the day she was born. Each year on her birthday, he deposited another $700. If the account pays 9.5% interest, compounded annually, how much is in the account at the end of the day on her 12th birthday? At the end of the day on her 12th birthday, the amount in the account is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Gilberto opened a savings account for his daughter and
deposited $700 on the day she was born. Each year on
her birthday, he deposited another $700. If the account
pays 9.5% interest, compounded annually, how much is in
the account at the end of the day on her 12th birthday?
(...)
At the end of the day on her 12th birthday, the
amount in the account is $.
(Simplify your answer. Type an integer or a
decimal. Round to the nearest cent if needed.)
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