Answer:
$ 424,181.7911
Explanation:
This is the case of a growing annuity where q = 1 + i
that means he interest rate is the same as the progression in this case, both are 1.03
as the interest rate is 3% and installment increase at 3%
[tex]C \times n \times (1+i)^{n-1}[/tex]
C = 6,000
n = 30
i = 0.03
Future value of the annuity: $ 424,181.7911 after 30 payment
