On January 1, 1518, Dracky Lou deposited E17 into an account earning an annual interest...
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On January 1, 1518, Dracky Lou deposited E17 into an account earning an annual interest rate of 3%. Dracky Lou then took a long nap in his coffin, and woke up on January 1, 2018. Dracky Lou now plans to make the following expenditures using money from this account: On January 1,2018, Dracky wishes to purchase a Blood Bank for 12.5 million. On January 1, 2118, Dracky wishes to purchase and modernize a crypt in Bucharest Romania. He estimates that the cost will be 225 million Every year for the each of the next 30 years, Dracky Lou wishes to donate 1 million to his favorite author, Stephanie Niyer. The first donation will be on January 1, 2019. On January 16, 2118 Dracky Lou plans to take another snooze. If he next wakes on January 1, 2218, how much money will he have left in his account? Assume a 3% annual interest rate throughout
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