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Mrs. Bully Dawg plans on investing every other year for a total of 5 investments. Her first investment will occur at the end of this
Mrs. Bully Dawg plans on investing every other year for a total of 5 investments. Her first investment will occur at the end of this year (i.e., 2007), and her future investments will increase at a rate of 7% more than the previous investment. If Mrs. Dawg earns 7% interest per year and wants to accumulate $10,000 at the time of her last deposit (i.e., the $10,000 includes her last deposit), what will the value be of her second deposit?
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