Jane Smart plans to make the following deposits in an account towards cash purchase of a real estate property. EOY 1 2 3 4 5 Deposit ​$6,000 ​$14,000 ​$22,000 ​$30,000 ​$38,000   ​(a) How much money will the account have immediately after the last deposit if the account earns an interest rate of 12​% per​ year?

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Jane Smart plans to make the following deposits in an account towards cash purchase of a real estate property.

EOY
1
2
3
4
5
Deposit
​$6,000
​$14,000
​$22,000
​$30,000
​$38,000
 
​(a) How much money will the account have immediately after the last deposit if the account earns an interest rate of
12​%
per​ year?
 
​(b) What is the equivalent uniform annual​ deposit?

 

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