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Smith makes annual deposits for 10 years. The first is 4,000 and each subsequent deposit is 3% smaller than the previous one. At an effective

image text in transcribedSmith makes annual deposits for 10 years. The first is 4,000 and each subsequent deposit is 3% smaller than the previous one. At an effective annual interest rate of i=0.06, what is the accumulated value of this annuity at the time of the last deposit? Keep four decimal places in your answer.

Smith makes annual deposits for 10 years. The first is 4,000 and each subsequent deposit is 3% smaller than the previous one. At an effective annual interest rate of i=0.06, what is the accumulated value of this annuity at the time of the last deposit? Keep four decimal places in your answer. Your

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