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QUESTION
Five years ago, Bob had opened a bank account that pays 3.5% compounded annually.
Five years ago, Bob had opened a bank account that pays 3.5% compounded annually. At the end of the first year, he deposited $450, the second year he deposited $350, the third year $0, the fourth year $500 and the fifth year $625. What is the value of his account after making the fifth deposit?
