Each year a certain amount of money is deposited in an account that pays an annual
the interest rate so that at the end of each year the balance in the account is multiplied by a
the growth factor of z = 1+r. $500 is deposited at the start of the first year, and an additional $200
is deposited at the start of the next year, and $600 at the start of the following year.
b. What is the amount (to the nearest cent) in the account at the end of three years if the
interest rate is 2%?