# Question: an inventor received a royalty payment from a licensee for...

###### Question details

An inventor received a royalty payment from a licensee for
$15,000.00 that he wants to invest over the next 35 years on an
account that he expects to earn 7% per year. Calculate the total
accumulation in the account at the end of this period,
**(a)** using both the standard notation, and
**(b)** the factor formula, and **(c)**
checking with Excel.