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On Juans 26th birthday he deposited $9000 in a retirement account Each year thereafter he deposited $1000 more than the previous year Using a gradient series factor, determine how much was in

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 5.4%

b. the account earned annual compound interest of 6.4%

 

Apr 02 2020 View more View Less

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