Question

Your grandmother has been putting $2,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 9%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $(Round to the nearest dollar.)

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Answer #1
we have to use financial calculator to solve this problem
Put in calculator
PMT -2000
I 9%
N 18
PV 0
Compute FV $82,602.68
Amount in the account =           82,603
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