Question
YOU NEED TO ACCUMULATE $10,000. TO DO SO, YOU PLAN TO MAKE DEPOSITS OF $1,750 PER YEAR, WITH THE FIRST PAYMENT BEING MADE ONE YEAR
YOU NEED TO ACCUMULATE $10,000. TO DO SO, YOU PLAN TO MAKE DEPOSITS OF $1,750 PER YEAR, WITH THE FIRST PAYMENT BEING MADE ONE YEAR FROM TODAY, IN A BANK ACCOUNT THAT PAYS 6 PERCENT ANNUAL INTEREST. YOUR LAST DEPOSIT WILL BE MORE THAN $1,750 IF MORE IS NEEDED TO ROUND OUT TO $10,000. HOW MANY YEARS WILL IT TAKE YOU TO REACH YOUR $10,000 GOAL, AND HOW LARGE WILL THE LAST DEPOSIT BE?
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Calculus With Applications
Authors: Margaret L. Lial
12th Edition
978-0135871348, 0135871344
