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An individual deposits an annual bonus into a savings account that pays 4​% interest compounded annually....

An individual deposits an annual bonus into a savings account that pays 4​% interest compounded annually. The size of the bonus increases by ​$4,200 each​ year, and the initial bonus amount was ​$18,000. Determine how much will be in the account immediately after the sixth deposit.

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Answer #1

Solution :-

The account Balance immediately after the sixth deposit = $185,856

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