question archive Dr Ruth has been secretly depositing $2,500 in her savings account every December starting in 1999
Dr Ruth has been secretly depositing $2,500 in her savings account every December starting in 1999
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Dr Ruth has been secretly depositing $2,500 in her savings account every December starting in 1999. Her account earns 5 percent compounded annually. How much will she have in December 2008? (Assume that a deposit is made in the year 2008.) Make sure to carefully count the years.
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