I am not completely sure this involves calculus but it has been presented in our calculus class and I have tried looking at this from all different ways.
On June 9, 2007 you receive $700 as a graduation present from your wealthy Aunt Thrifty. She will give you $700 more each year that you leave it invested. You leave it invested until June 9, 2054 at the annual interest rate of 3.25%, compounded yearly. How much money is this?
I know you can do this year by year, but I need a formula. I can't figure out how to include the additional $700 she receives each year and the interest for it.