Deposits are made at the end of years 1 through 7 into an account paying 6 percent

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Deposits are made at the end of years 1 through 7 into an account paying 6 percent per year interest. The deposits start at $$5$,000 and increase by $$1$,000 each year. How much will be in the account immediately after the last deposit?

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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Question Posted: Mar 26, 2024 01:01 AM

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Deposits are made at the end of years 1 through 7 into an account paying 6 percent

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To find the total amount in the account immediately after the last deposit well calculate the future value of each deposit and then sum them up Given ...View the full answer

Principles Of Engineering Economic Analysis

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