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A person is trying to investigate a savings pattern that follows an arithmetic gradient series. He/She...

A person is trying to investigate a savings pattern that follows an arithmetic gradient series. He/She opened new savings account with $35,000 in year 1 and deposited $4,000 more each year compared to the previous year for 7 years. If the rate of return is 10% per year, determine the equivalent annual worth of the account.

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Rahul Sunny answered 2 years ago
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