Answer:
future value of a lump sum:
[tex]Nominal(1+r)^n = FV\\2,620(1+r)^{28} = FV[/tex]
Explanation:
when there is only a single deposits the formula will be the compounding interest future value of a lump sum
The deposits will generate incoem at a given rate r which, will make it increase their value over the course of time.
