Can you guys help me with this question? I';m so confused on how I should approach it:
Tomís father paid $500 into an account on the day Tom was born. ?After that, he paid $500 into the account on Tomís bday until Tomís 18th bday. ?If the account accrued interest at 8%p.a compounded monthly, calculate how much Tom would receive on his 18th bday.
Thanks in advance!