Equivalent annual amount and accumulated amount

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Reference no: EM131498922

The Bowman family invests annually in their "IRA" over the next 35 years. They are able to deposit $10, 500 the first year, and increase this amount by $1, 500 each year over the life of the investment. They earn an ROI of 9.85%. Calculate the following

Equivalent Annual Amount

Accumulated Amount

Reference no: EM131498922

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