You are given the choice between a yearly payment of $3,405 that increases by $151 every year or a yearly payment of $3,405 that

Question

You are given the choice between a yearly payment of $3,405 that increases by $151 every year or a yearly payment of $3,405 that increases by 2.8% compounded annually. How much money would you make after 13 years if you chose the exponential payment? Do not include the dollar sign in your answer. Round to the nearest cent.

Kunduz · Accepted Answer

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