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Mathematics, 03.06.2021 21:50 RafMad5018

You are saving to buy a speed boat. Starting today, you will put $1,000 into an investment account. Each month thereafter, your contribution will be .1% (.001) higher than the month before, so that your contribution next month will be .1% higher than today, and so forth and so on. The investment account has a periodic monthly interest rate of .4% (.004). Ignore taxes. You will make contributions until 5 years from today. At the end of five years, when you put in your last ­contribution, how much will you have saved?

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