The current account balance of Mr. As saving account is $45000. He makes a deposit...
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Accounting
The current account balance of Mr. As saving account is $45000. He makes a deposit at the end of every month. You are given that The amount of the first deposit, which is made one month after today, is and the amount is increased by (100)% every month afterward. That is, the amount of the second deposit is (1+), the amount of the third deposit is (1+)2, and so on. The saving account earns interest at a monthly effective interest rate and the interest is added to the account at the end of every month. The account balance at the end of month is (12)=52500 and the account balance at the end of (2) month is (212)=60915.16. (1+)=1.05505. Calculate the account balance at the saving account at the end of (3) month.
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