Problema Solution
Suppose your grandparents began depositing $2.00 unto an annuity each wee on January 1, 1890. Your grandparents and parents continue this tradition, depositing $2.00 each week. The annuity has been paying 7%. How much will be in the account on January 1, 2014?
Answer provided by our tutors
Suppose your grandparents began depositing $2.00 unto an annuity each wee on January 1, 1890. Your grandparents and parents continue this tradition, depositing $2.00 each week.
The above statement is unclear... is $2.00 per week being deposited by the grandparents? or is $2.00 per week also being added by the parents?