How much money will be in the account immediately

Reference no: EM131016674

Jughead has been promised a settlement that will pay him cash, each month, for the next 2 years. The cash amount begins at $950 at the end of the first month and increases by $250 each month (arithmetic gradient) thereafter until the last payment at the end of the 24th month. If Jughead takes each payment and deposits it into an investment that earns a return of 0.75% per month, how much money will be in the account immediately after the last payment?

Reference no: EM131016674

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