An individual makes five annual deposits of 2000 in a, Engineering Mathematics

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An individual makes five annual deposits of 2000 in a

Question: An individual makes five annual deposits of $2,000 in a savings account that pays interest at a rate of 4% per year. One year after making the last deposit, the interest rate changes to 6% per year. Five years after the last deposit, the accumulated money is withdrawn from the account. How much is withdrawn?

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Engineering Mathematics: An individual makes five annual deposits of 2000 in a

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