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En Problem 2-48 (algorithmic) Question Help mes Hom An individual deposits an annual bonus into a savings account that pays 6% interest compounded annually.
En Problem 2-48 (algorithmic) Question Help mes Hom An individual deposits an annual bonus into a savings account that pays 6% interest compounded annually. The size of the bonus increases by $4,000 each year, and the initial bonus amount was $12,000. Determine how much will be in the account immediately after the fifth deposit. Click the icon to view the interest factors for discrete compounding when / 6% per year
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