Presume that you make a series of annual deposits into a


Presume that you make a series of annual deposits into a bank account that pays 10 percent interest. The initial deposit at the end of the first year is $1,200. The deposit amounts increase by $500 in each of the next five years. How much would you have immediately after the 6th deposit?

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Microeconomics: Presume that you make a series of annual deposits into a
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