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Eighteen annual deposits are made earning interest of 4% compounded annually. The size of the first deposit is $1500 and the deposits increase at 3.8%
Eighteen annual deposits are made earning interest of 4% compounded annually. The size of the first deposit is $1500 and the deposits increase at 3.8% thereafter. (a) Determine the total amount deposited. (b) How much was the accumulated value of the deposits just after the last deposit was made? (c) What is the size of the 8th deposit? (d) What is the amount of interest included in the accumulated value
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