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5. Bill makes monthly deposits into a savings account at the end of each month for 20 years. His first deposit is 100 and each

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5. Bill makes monthly deposits into a savings account at the end of each month for 20 years. His first deposit is 100 and each subsequent deposit is 1% more than the previous deposit. Assuming an annual effective interest rate of 4%, how much does he have in his account at the time of the last deposit

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