You have decided to save for your retirement and would like to put the geometric...
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You have decided to save for your retirement and would like to put the geometric series to work. You would like to have $2,000,000 when you retire, 30 years from now. If the annual increase in your savings is 4% and the annual interest rate you can earn on your savings is 7%:
a) Determine the amount of the deposit you should make in the first year.
b) Determine the amount of the deposit you should make in the 30th year.
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