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Smith makes monthly deposits at the end of each month to his saving account for 3 years. The first deposit is 560 dollars and each
Smith makes monthly deposits at the end of each month to his saving account for 3 years. The first deposit is 560 dollars and each subsequent deposit is 10 dollars less than previous one. What is the accumulated amount in the account after the last deposit? Suppose the interest rate is i(12) = 0.03. 12987.568 14382.5589 14585.2725 14209.07
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