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Suppose that you make a series of annual deposits into a bank account that pays 10% interest. The initial deposit at the end of the
Suppose that you make a series of annual deposits into a bank account that pays 10% interest. The initial deposit at the end of the first year is $1,200. The deposit amounts increase by $200 in each of the next 4 years. How much would you have immediately after the 5th deposit?
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$9,536.32
$8,000.00
$9,276.55
$8,925.12
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