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Jasmine deposits money into an account that earns a nominal annual interest rate of 3.65% compounded daily. The deposits are made according to the following
Jasmine deposits money into an account that earns a nominal annual interest rate of 3.65% compounded daily. The deposits are made according to the following schedule: . . Deposit of 11 at the end of day 5. Deposit of 14 at the end of day 10. Deposit of 17 at the end of day 15. Deposit of 20 at the end of day 20. And so on, increasing each subsequent deposit by 3 and making it occur 5 days after the previous payment. . . What is the accumulated value (i.e. future value) of the account immediately after the deposit made on day 500? Note: There are 365 days in a year. (a) 16223 (b) 17156 (c) 18231 (d) 19321 (e) 20538
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