tommy started a savings account today by depositing $1000 and then depositing $500 for next year (year 1). Furthermore,

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answerhappygod
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tommy started a savings account today by depositing $1000 and then depositing $500 for next year (year 1). Furthermore,

Post by answerhappygod »

tommy started a savings account today by depositing $1000 and
then depositing $500 for next year (year 1). Furthermore, Tommy
deposites into the same account $30 for year 2 and then increases
each new yearly deposit by $30 (so year 3= $60) through year 25.
assuming an interest rate of 4.8%, what is the equivalent uniform
amount of this investment if paid out from year 1 throught year
10(to the closest dollar)?
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