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A person wants to deposit $30,000 per year for 15 years. If interest is earned at the rate of 16% per year, compute the amount
A person wants to deposit $30,000 per year for 15 years. If interest is earned at the rate of 16% per year, compute the amount to which the deposit will grow by the end of 15 years if;
Deposits of $30,000 are made at the end of each year with interest compounded annually.
Deposits of $15,000 are made at the end of each 6 month period with interest compounded semiannually.
Deposits of $2,000 are made at the end of every month with interest compounded monthly.
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