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Ten months from today, you plan to make the first of several quarterly deposits into an account paying an APR of 4% with monthly compounding.
Ten months from today, you plan to make the first of several quarterly deposits into an account paying an APR of 4% with monthly compounding. After your first deposit, subsequent deposits will grow by 1% each. After your final deposit three years and seven months from today, you will simply let interest accrue on the account. Set up the calculations needed to determine your first and your final deposit if you want the balance in your account to equal $100,000 four years from today.
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