Retirement account with a deposit

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Reference no: EM13750180

Maria opens a retirement account with a deposit of 1260 dollars. Each year, she makes another deposit that is 2.7 percent larger than the previous deposit. If the account pays an effective annual rate of interest of 8.4 percent, calculate the accumulated value of the account immediately after the 24th deposit

Reference no: EM13750180

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Retirement account with a deposit : Maria opens a retirement account with a deposit of 1260 dollars. Each year, she makes another deposit that is 2.7 percent larger than the previous deposit. If the account pays an effective annual rate of interest of 8.4 percent, calculate the accumul..

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