Question: QUESTION 2 Tom has served in the Navy for 35 years and plans to retire sometime in the future. Every five years, he has received
QUESTION 2 Tom has served in the Navy for 35 years and plans to retire sometime in the future. Every five years, he has received a resentment bonus and deposited a certain dollar amount in an account for when he retires. After making his current deposit, the value of his account it 33,399.35. Assuming an annual effective interest rate of what was his deposit amount every five years? DA) 250 D) 360 E) 390
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