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Jim deposits $ 5 , 0 0 0 today into an account that pays 1 3 % per year, and follows it up with three

Jim deposits $

5, 000

today into an account that pays

13 %

per year, and follows it up with three more deposits at the end of each of the next

3

years. Each subsequent deposit is $

2, 000

higher than the previous one. How much money will Jim have accumulated in his account by the end of

3

years?

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