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Suppose that you make a series of annual deposits into a bank account that pays 12% interest. The initial deposit at the end of the
Suppose that you make a series of annual deposits into a bank account that pays 12% interest. The initial deposit at the end of the first year is $1,200. The deposit amount decline by $200 in each of the next four years. How much would you have immediately after the fifth deposit?
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$5,368.67
$9,878.16
$5,232.88
$9,520.87
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