Christmas bonuses including the most recent bonus in a, Financial Management

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Christmas bonuses including the most recent bonus in a

Last Christmas, Danny received an annual bonus of $1500. These annual bonuses are expected to grow by 5 percent for the next 5 years. How much will Danny have at the end of the fifth year if he invests his Christmas bonuses (including the most recent bonus) in a project paying 8 percent per year?

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