Question 7 A woman deposits $9000 at the end of each year for 8 years...
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Finance
Question 7
A woman deposits $9000 at the end of each year for 8 years in an account paying 4% interest compounded annually.
(a) Find the final amount she will have on deposit
(b) Her brother-in-law works in a bank that pays 3% compounded annually. If she deposits money in the bank instead of the other one, how much will she have in her account?
(c) How much would she lose over 8 years by using her brother-in-law's bank?
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