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Each year on Smith's child's birthday, Smith makes a deposit of 100 multiplied by the child's age (100 on the 1st birthday, 200 on the
Each year on Smith's child's birthday, Smith makes a deposit of 100 multiplied by the child's age (100 on the 1st birthday, 200 on the 2nd birth day, and so on) to an account earning effective annual interest rate i. The final deposit is on the child's 12th birthday. The account continues to accumulate, and on the child's 18th birthday the balance is $17,177.70. Find i,. (Formulate the solution without solving it.)
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