Deposits are made into an account at the end of every 2 months as follows:
600,575,550,525,… If the fund earns interest at j₆ = 6%,what is the accumulated value of this account at the end of 2 years?

Question

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The deposits form an arithmetic sequence with a common difference of -25. The interest rate is 6% compounded semi-annually, which translates to an effective rate of 1% per 2-month period. Calculate the future value of each deposit using the formula for the future value of an annuity, considering the decreasing deposit amounts and the interest rate. The accumulated value at the end of 2 years is $5903.24.

Deposits Are Made into an Account at the End of Every