Determine how much is on deposit after the 18th birhday

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Helen can earn 3% interest in her saving account. Her daughter roberta is 11 years old today. suppose helen deposits $4000 today and one year from today she deposits $1000. Each year she increases her deposit by $500 until she makes her last deposits on roberta's 18 birthday. how much is on deposit after the 18th birhday, and what is the annual equivalent of her deposits?

Reference no: EM13296796

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