Gary and Debra Garfield invested $7,000 in a savings account paying 8% annual interest when...
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Gary and Debra Garfield invested $7,000 in a savings account paying 8% 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. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 18th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.)
| Amount on 18th birthday | $enter a dollar amount rounded to 2 decimal places |
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