At the end of last month, Comfy Bunk Bed & Breakfast decided to invest $500 monthly into
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At the end of last month, Comfy Bunk Bed & Breakfast decided to invest $500 monthly into an investment fund earning 6% compounded monthly. It plans on continuing these deposits on a regular monthly basis, increasing the deposit amount by 0.75% each time. If these payments continue for 15 years, what would be the accumulated value of the fund at the end of the term?
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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