Planning for her retirement

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Brittany is planning for her retirement. She has 30 years before she retires. She plans to keep the money in a bank, which will pay interest at the annual rate of 3% and compound it monthly. She will start by depositing $300 in the account at the beginning of the first month. In the second and subsequent months, she will increase the deposit by 1% every month. How much money is there in the account after 30 years?

Reference no: EM13879343

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