Assume the exact method of accumulation is in effect

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Here is a question about mathematics of finance : Barbara makes a sequence of 28 semiannual deposits of the form x, 2x,x,2x,..... into an account paying a rate of 6.8 percent compounded annually. If the account balance 6 years after the last deposit is $9550, what is x ? Assume the exact method of accumulation is in effect

Reference no: EM131308824

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