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Seven deposits increasing at a constant rate of 1.5% are made at the end of...

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Accounting

Seven deposits increasing at a constant rate of 1.5% are made at the end of each of six successive years. The size of the first deposit is $5,000 and the fund earns interest at 6% compounded annually.

How much was deposited in total?

Select one:

a. 46,614.97

b. 56,614.97

c. 35,614.97

d. 36,614.97

e. 37,614.97

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