Walter makes a sequence of annual deposits into an account paying an effective rate of interest of 9 percent. The first deposit of 600 dollars comes one year from now, and each subsequent deposit is 150 dollars larger than the last. What will be the amount of his 35th deposit? Answer= dollars.

Walter makes a sequence of annual deposits into an account paying an effective rate of interest of 9 percent. The first deposit of 600 dollars comes one year from now, and each subsequent deposit is 150 dollars larger than the last. What will be the amount of his 35th deposit? Answer= dollars.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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can some please explain with steps . and if this problem is solved with geometric sequence can you also explain that part .

Walter makes a sequence of annual deposits into an account paying an effective rate of interest of 9 percent. The first deposit of 600 dollars comes one year from
now, and each subsequent deposit is 150 dollars larger than the last. What will be the amount of his 35th deposit?
Answer=
dollars.

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