Question 1076511
Let 1000.00 be the initial deposit. Then the next year, Tyler's dad deposits 1050.00, or 1000(1.05)^1. The next year, he deposits 1050(1.05), or 1000 x (1.05)^2. So Tyler has 1000 (1.05)^0 + 1000 (1.05)^1 + 1000(1.05)^2..... which equals 1000 x &#931;(1.05)^n, with n from 0 to 18. This amounts to 1000 x 30.539, which equals $30539.00 at the end of 18 years. &#9786;&#9786;&#9786;&#9786;