Suppose you make 5 annual deposits into a savings account paying 4% compounded annually. Your first deposit, at the end of this year, is $1,200 and you plan to increase your deposits by 10% each year. What is the Future Value of your deposits? 2 points

Suppose you make 5 annual deposits into a savings account paying 4% compounded annually. Your first deposit, at the end of this year, is $1,200 and you plan to increase your deposits by 10% each year. What is the Future Value of your deposits? 2 points

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter7: Percents

Section: Chapter Questions

Problem 48CR

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Question

Suppose you make 5 annual deposits into a savings account paying 4% compounded annually. Your first
deposit, at the end of this year, is $1,200 and you plan to increase your deposits by 10% each year.
What is the Future Value of your deposits?
2 points

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