Pls help me solve this
Mr. Chan started working in 2006 and will retire by the end of year 2030...
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Mathematics, 30.03.2020 14:08 kimmy6973
Pls help me solve this
Mr. Chan started working in 2006 and will retire by the end of year 2030. During this period, he will deposit $20,000 at the
beginning of the year 2006, and $22,000 at the beginning of the year 2007, and for each subsequent year, 10% more than
previous year, would be deposited in a bank at a fixed interest rate of 6% p. a., interest compounded yearly. (Give your answers
correct to the nearest integer)
By the time Mr. Chan retires, will he get more than $3,000,000? Explain briefly.
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