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You are saving money for your first car, and you plan to make regular deposits into a an account, earning 10%. Your first deposit of
You are saving money for your first car, and you plan to make regular deposits into a an account, earning 10%. Your first
deposit of RM4,500 will be made today. You also plan to make four additional deposits at the beginning of the next four
years. After that, you plan to increase your deposits by 9% a year. (You plan to deposit RM4,500 at t = 0, and RM4,905
at t = 1, etc.) How much money will be in your account after five years?
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