Question 1157423
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It works as a classic Ordinary Annuity saving plan with the <U>annual deposit</U> of 150*4 = 600 dollars, compounded annually at 3.4%.


The general formula is 


    FV = {{{P*(((1+r)^n-1)/r)}}},    (1)


where  FV is the future value of the account;  P is the annual payment (deposit); r is the annual percentage rate presented as a decimal; 
n is the number of deposits (= the number of years, in this case).


Under the given conditions, P = 600;  r = 0.034;  n = 10.  So, according to the formula (1), you get at the end of the 10-th year


    FV = {{{600*(((1+0.034)^10-1)/0.034)}}} = $7006.39 dollars.


Note that you deposit only  10*$600 = $6,000.  The rest, $1006.39 is the interest, which the account earns/accumulates in 10 years.
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Solved.


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On Ordinary Annuity saving plans, &nbsp;see the lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Ordinary-Annuity-saving-plans-and-geometric-progressions.lesson>Ordinary Annuity saving plans and geometric progressions</A>

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Solved-problem-on-Ordinary-Annuity-saving-plans.lesson>Solved problems on Ordinary Annuity saving plans</A>

in this site.


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When you learn from these lessons, &nbsp;you will be able to do similar calculations in semi-automatic mode.