Kris deposits $1385 at the end of each year, increasing the deposit by $159 each...

90.2K

Verified Solution

Question

Accounting

image

Kris deposits $1385 at the end of each year, increasing the deposit by $159 each subsequent year. How much will Kris have in the account at the end of 22 years if the bank pays 3% compounded annually? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas (", ") or a decimal point (", ")

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students