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March 28, 2017

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on the day Rachel was born, her grandparents deposited $ 500 into a savings account that earns 4.8%/a compounded monthly . They deposited the same amount on her 5th, 15th, and 10th birthdays. determine the balance in the account on Rachel's 18th birthday

  • Math - ,

    amount = 500[ ( 1.004)^216+1.004^156 + 1.004^96 + 1.004^36 ]
    = .....

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