Determine annual compound

Reference no: EM13176788

On Juan's twenty-sixth birthday, he deposited $6,000 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 thirty-fifth deposit if:

a) annual compound of 4.7 %

b) annual compound of 5.7%

Reference no: EM13176788

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