Calculating deposit in saving account, Finance Basics

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Calculating deposit in saving account

Question:

Christy Reed has been depositing $1,500 in her savings account every December since 2001. Her account earns 6 percent compounded annually. How much will she have in December of 2010? (Assume that a deposit is made in December 2010. Make sure to count the years carefully.)

Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.Provide step by step solutions for the above question.

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