You have been able to save $1,200 over the last several years and are keeping it in an account that pays
7% interest. Now that you have made it big you feel that you can start investing regularly. You vow to
place $200 into that same account on the first banking day of the year, each year. How much will be in
that account on the last banking day of the year 20 years from now?
? $12,875.37
$13,875.12
$13,416.66
$14,003.76