Question

Annual deposits are made every year from n=1 to n=25 into an
account paying **3% annual interest**. The first
deposit is $400 at n=1. Each year the deposits are increased by 3%.
SO:

$400 at n=1, $412 at n=2, $424.36 at n=3, ….

Just after the 25^{th} deposit, the value of the account
is closest to:

A: $21,566

B: $20,328

C: $10,300

D: $9,709

Answer #1

deposits are made at the end of the years 1 thought 7
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No.1
Beginning one year from now, six annual deposits of $2,000
each
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What will be the balance in the account after the sixth
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No.2
What amount must be deposited at 10% in an account on January 1,
2019 if it is
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The last withdrawal will occur on January 1, 2023.

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