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Assume that today is your 30 th birthday and you have 690813 in your savings account. Every quarter you will reinforce your savings account with
Assume that today is your 30thbirthday and you have 690813 in your savings account. Every quarter you will reinforce your savings account with new deposits that grow 1% per quarter, start one year from now and end when you turn 75 years old. The last amount deposited is 5852. Assume that your savings earn an effective annual rate of 9.2%.
Compute the total amount in your bank account (with interests) when you turn 84 years old.
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