On Juans twenty-sixth birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited $1,000

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On Juan’s twenty-sixth birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited

$1,000 more than the previous year. Using a gradient series factor, determine how much was in the account immediately after his thirty-fifth deposit if

a. the account earned annual compound interest of 5 percent.

b. the account earned annual compound interest of 6 percent.

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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