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Eleven semi-annual deposits are made earning interest of 7.5% compounded semi-annually. The size of the first deposit is $1200 and the deposits increase at 3.4%
Eleven semi-annual deposits are made earning interest of 7.5% compounded semi-annually. The size of the first deposit is $1200 and the deposits increase at 3.4% 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? a) The total amount deposited is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) b) The accumulated value of the deposits just after the last deposit was made was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) c) The size of the 8th deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) d) The amount of interest included in the accumulated value is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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