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On Juan’s 26th birthday, he deposited $9,000 in a retirement account. Each year thereafter, he deposited $1,000 more than the previous year. Using a gradient series factor, determine how much was in the account immediately after his 35th deposit if:
a)the account earned annual compound interest of 3.7%
b)the account earned annual compound interest of 4.7%
PLEASE show step by step to understand whats going on, in the simplest way of explaining.
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