Small consulting company is planning to make deposits

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A small consulting company is planning to make deposits such that each one is 3% larger than the preceding one. What is the annual equivalent of this cash flow if the company makes 12 deposits and the interest rate is 8%? The first deposit is $7,000 at the end of year 1.

Reference no: EM131095655

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Small consulting company is planning to make deposits : A small consulting company is planning to make deposits such that each one is 3% larger than the preceding one. What is the annual equivalent of this cash flow if the company makes 12 deposits and the interest rate is 8%? The first deposit is $7,000 ..

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