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Could you show the work for the following problem? Previous solutions just have the formula but I don't understand where the $3000 dollars comes into play.

If you deposit $1000 now, $3000 four years from now followed by five quarterly deposits decreasing by $500 per quarter at a rate of 12% per year compounded quarterly, how much money will you have in your account 10 years from now?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91998348

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