A bank account pays 19.2% interest with monthly compounding. A series of deposits started with a deposit
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A bank account pays 19.2% interest with monthly compounding. A series of deposits started with a deposit of $5000 on January 1, 1997. Deposits in the series were to occur each 6 months. Each deposit in the series is for $150 less than the one before it. The last deposit in the series will be due on January 1,2012, what is the future worth of the account on July 1, 2014, if the balance was zero before the first deposit and no withdrawals are made?
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