Finance
posted by Mya on .
Your grandparents deposit $1,000 each year on your birthday, starting the day you are born, in an account that pays 6% interest compounded annually. How much will you have in the account on your 30th birthday, just after your grandparents make their deposit.

since its just after they deposit 1,000 then you multiply 29,000 x .06 = 1740. then add that to 30000 because they just deposited the 1,000. then you get $31,740

Suppose $500 is invested monthly at 4% compounded monthly, for
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years. 
Find the future value of the ordinary annuity with payout of $20,000
at 4.5% interest compounded annually for 12 years. 
Suppose $500 is invested monthly at 4% compounded monthly, for
10 years, then $600 is invested monthly at 6% compounded monthly, for
10 years.