Granny Mae Has Been Helping Her Favorite Grandchild Save
Granny Mae has been helping her favorite grandchild save. She has given you $1 each year on your birthday, starting when you turned one, and taken you to deposit it in your bank account, which earns 4 percent each year. You have not deposited or withdrawn any othermoney. You just turned 21. However, Granny Mae is forgetful, and she forgot to give you money on your 10th and 20th birthdays. How much is in your account today?
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