1) tommy started a savings account today by depositing $1000 and then depositing $500 for next year (year 1). Furthermor
Posted: Wed May 18, 2022 10:48 pm
1) 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)?
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)?