Investment with Varying Interest Rate
Shari Thompson invested $1,000 in a financial institution on January 1, 2014. She leaves her investment in the institution until December 31, 2018. How much money does Shari accumulate if she earns interest, compounded annually, at the following rates?
|
2014
|
4%
|
|
2015
|
5
|
|
2016
|
6
|
|
2017
|
7
|
|
2018
|
8
|