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What the amount of money in your savings account will be

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Reference no: EM132815417

Problem 1: Since your first birthday, your grandparents have been depositing $1,000 into a savings account on every one of your birthdays. The account pays 4% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to?

Select one:

a. $25,645

b. $36,465

c. $12,659

d. $18,000

e. $26,671

Reference no: EM132815417

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