Question
On Juans 26th birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited $1,000 more than the previous year. Using a gradient
On Juans 26th birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited $1,000 more than the previous year. Using a gradient series factor, determine how much was in the account immediately after his 35th deposit if:
a. the account earned annual compound interest of 5.2%. $
b. the account earned annual compound interest of 6.2%. $
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Global Business Today
Authors: Charles Hill
7th Edition
0078137217, 9780078137211
