The value of the account after the 10th deposit if no withdraws or additional deposits are made should be $15,093.47.
Calculation of the value:
Since
The initial deposit is $1.200
The rate of interest is 5%
Now the future value be like
[tex]= (1,200 \times (1 + 0.05)^{9} - 1) \div 0.05) \times (1 + 0.05) + 1,200\\\\= 1,200 \times (1.5513 - 1) \div 0.05) \times (1 + 0.05) + 1,200\\\\= (1,200 \times 11.0265) \times (1.05) + 1,200[/tex]
= 13893.4711 + 1,200
= $15,093.47
hence, The value of the account after the 10th deposit if no withdraws or additional deposits are made should be $15,093.47.
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