Carlson photography receives royalties based

Reference no: EM13265543

Carlson Photography receives royalties based on the use of their photographs with a major client. Every year, theclient makes deposits in Carlson's bank account that earns 6 percent compounded annually. The client increases the amount they deposit into the Carlson account by 4percent per year.If the client initially gives Carlson $15,000,how much will the account have in 5 years?

Reference no: EM13265543

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