Claude made annual deposits of $6200 at the beginning of every one-year period into a fund earning 8.8% compounded annually for four years. No further
Claude made annual deposits of $6200 at the beginning of every one-year
period into a fund earning 8.8% compounded annually for four years. No further deposits were made.
(a) How much will be in the account nine
years after the first deposit?
(b) How much in total was deposited?
(c) How much interest will have been earned?
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Authors: Maurice D Levi
5th Edition
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