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Your business is able to bring you a net profit of EGP 350,000 in the first quarter. Each quarter, your net profit increases by EGP
Your business is able to bring you a net profit of EGP 350,000 in the first quarter. Each quarter, your net profit increases by EGP 20,000. So, in the second quarter, your net profit is EGP 370,000. You decide to spend EGP 150,000 each quarter on yourself and save the rest in an account that brings you 3% per quarter compound interest. Determine how much will be in the fund immediately after your tenth deposit.
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