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Annual deposits are made every year from n=1 to n=25 into an account paying 3% annual...

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 25th deposit, the value of the account is closest to:

A: $21,566

B: $20,328

C: $10,300

D: $9,709

Engineering   Civil-Engineering   
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