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SOLUTION Deposits are made at the end of Years I through 7 into an account paying 3%. The first deposit equals $5,000 and each deposit

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SOLUTION Deposits are made at the end of Years I through 7 into an account paying 3%. The first deposit equals $5,000 and each deposit will increase by $1,000 cach year thereafter. After the last deposit assume no deposits or withdrawals are made. Determine the amount in the account after 10 years. SOLUTION

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