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Annual end-of-year deposits are made to a fund paying an annual effective rate of interest of 5%. The first deposit is $1,400 and then they
Annual end-of-year deposits are made to a fund paying an annual effective rate of interest of 5%. The first deposit is $1,400 and then they go up by 2% annually. Interest from the 5% account is paid out annually and is reinvested at an annual effective discount rate of 4%. At the end of the thirty years, the funds are liquidated. Find the investor's accumulated value at the time of the liquidation. (Round your answer to the nearest cent.) $
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