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If you deposit $650 each year (first deposit made at t = 1), into an account that pays 6% inter- est per year, compounded annually,
If you deposit $650 each year (first deposit made at t = 1), into an account that pays 6% inter- est per year, compounded annually, what will be the balance in the account after you have made 15 payments, assuming that you make no withdrawals from the account?
I can't figure out how to factor for annual compounding....what is this equation?
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