Question: Question 4 200,000 is to be saved over 15 years with year-end deposits into an account that earns 5% effective rate of interest. The annual

Question 4 200,000 is to be saved over 15 years with

Question 4 200,000 is to be saved over 15 years with year-end deposits into an account that earns 5% effective rate of interest. The annual deposit during the final 5 years is 50% higher than the annual deposit during the first 10 years. How much is deposited in the first year? How much interest is earned over the 15 year period (difference between accumulated amount and deposits made)

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