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Quarterly deposits are made into a fund at the beginning of each quarter starting today for 5 years. The first 8 deposits are $1000 each

Quarterly deposits are made into a fund at the beginning of each quarter starting today for 5 years. The first 8 deposits are $1000 each and deposits increase by 1% per quarter thereafter. If the fund earns 8% effective annually, find the accumulated value at the end of 5 years.

Please explain which equations you used and do not use excel.

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