Since Your First Birthday, Your Grandparents Have Been Depositing $1

question 26

Multiple Choice

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:

• A)$12 659
• B)$36 465
• C)$18 000
• D)$25 645

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