Question: You work for FB . FB promises all employees a bonus of $ 1 0 0 at the end of the first month. The bonus

You work for FB. FB promises all employees a bonus of $ 100 at the end of the first month. The bonus will increase by 4% each month for duration of two ears total (24 payments). You deposit all your bonuses into an account that earns a nominal interest rate of 5.6% compounded monthly.
Calculate the accumulated value of our account at the end of the two years.

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