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Posted on Aug 12, 2024

Suppose that you make 3 5 annual deposits of $ 1 , 4 2 4 in an account paying 1 0 % APR with daily

Suppose that you make

35

annual deposits of $

1, 424

in an account paying

10 %

APR with daily compounding. Assuming that the first deposit will occur six years from now and that each of the remaining deposit will occur exactly one year apart, how much money will be in the account

40

years from now? Round your final answer to two decimals.

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