Question

Can you help with Issue A?

Answer 1

$16,532.98

Explanation:

Her last deposit = 500, second last = 500 x 1.05, third last = 500 x 1.05^2................ first deposit = 500 x 1.05^19

=500 +500 x 1.05 + 500 x 1.05^2 + 500 x 1.05^19

= 500(1.05^20-1) divided by (1.05-1)

= 16532.98