(Answered) If you deposit 725 each year first deposit made at t 0 for

Statistics

If you deposit $725 each year (first deposit made at t = 0) for 18 years into an account that pays 7.4% interest per year, compounded annually, what will be the balance in the account at the end of year 25, assuming you make no withdrawals from the account? (Note that after you stop making deposits, the balance in your account will continue to earn interest until the end of year 25.)

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