We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
a.A=18300*(1.12)^4+15250*(1.12)^3+12200*(1.12)^2+6100*(1.12)+3050
=$75406(Approx).
b.A=18300*(1.12)^5+15250*(1.12)^4+12200*(1.12)^3+6100*(1.12)^2+3050*(1.12)
=$84455(Approx).
, determine the future value at the end of the final year if deposits are made...
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