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At T=0 you deposit $6000 into an account, earning an effective annual rate of 10 percent. You plan on depositing an additional $11,000 each year
At T=0 you deposit $6000 into an account, earning an effective annual rate of 10 percent. You plan on depositing an additional $11,000 each year at T=1, T=2, etc. Doing this, your account will have a balance of $100,000 at T=X
Following the technique demostrated in class, what is X?
A) 6.13
B) 6.22
C) 6.35
D) 6.29
E) 6.48
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