Business, 20.03.2020 07:51 whitakers87

Congratulations, you are a millionaire. No, the Delaware Lottery office did not call. However, an officer from Bank of America has just informed you of an account that your grandmother set up years ago to be given to you on this date. The balance is exactly one million dollars. She made ten equal annual deposits into the account, with the final one occurring exactly 50 years ago in 1970. The account has earned 3.2% (APY) every year. A. How much money was in the account on this date in 1970?
B. How much was each of the ten annual payments that Grandma made (1961-1970)?

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