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A bank deposit is made at present. The deposit will provide 20 annual payments forming a uniform gradient series. The first payment of series is

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A bank deposit is made at present. The deposit will provide 20 annual payments forming a uniform gradient series. The first payment of series is made at the end of year 12 and its value is equal to KD 200. The series gradient is KD 50. During the first 10 years, the bank provides an annual interest rate of 4% (compounded annually). Subsequently, the bank interest increases to 6% (compounded annually). Determine the bank deposit. 20 payment of uniform gradient series with G KD 50 290 10 I 12 31 years- 4% (oompounded 6% (compounded annually) annuall

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