Question: Problem 1: (20 points) You opened a bank account when you started your job and deposited an inial amount of SX to start the account.

Problem 1: (20 points) You opened a bank account when you

Problem 1: (20 points) You opened a bank account when you started your job and deposited an inial amount of SX to start the account. You then deposited $500 every year for 20 years. The total deposit in your bank account after 20 years was $30,000. Assurme an interest rate of 1.5% per year, what was the initial deposit to your bank account

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