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John makes regular $2000 deposits in his savings account every year for the next 10 years, starting today(total 11 deposits). The bank will pay annual
John makes regular $2000 deposits in his savings account every year for the next 10 years, starting today(total 11 deposits). The bank will pay annual intrest rate of 5% for the next 10 years and will increase the intrest rate to 10%, thereafter. When will John have $100,000 in his account?
Please show all working with formulas. Don't solve it through excel.
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