A man makes a series of ten annual deposits starting at P2,000 at the end of the first year and increasing the amount deposited by (10+N/5)% every year thereafter. Find the total amount at the end of ten years if the rate of interest on all sums on deposit is 8%.
A man makes a series of ten annual deposits starting at P2,000 at the end of the first year and increasing the amount deposited by (10+N/5)% every year thereafter. Find the total amount at the end of ten years if the rate of interest on all sums on deposit is 8%.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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