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You are saving money for your first house, and you plan to make regular deposits into a brokerage account earning 9%. Your first deposit of
You are saving money for your first house, and you plan to make regular deposits into a brokerage account earning 9%. Your first deposit of $5,500 will be made today. You also plan to make four additional deposits at the end of each of the next four years. Your plan is to increase your deposits by 10% a year, starting with first deposit ($5,500*1.10, etc.). How much money will be in your account after four years? Provide calculations.
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