Ten months from today, you plan to make the first of several semiannual deposit into...
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Finance
Ten months from today, you plan to make the first of several semiannual deposit into an account paying an APR of 3% quarterly compounding. After your first deposit, subsequent deposits will grow by 3% each. After your final deposit four years and four months from today, you will simply let interest accrue on the account. Set up the calculations needed to determine your first and your final deposit if you want the balance in your account equal $50,000 five years from today.
Please show how to set up this problem.
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