What would her benefit be on the fifth anniversary, Financial Accounting

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What would her benefit be on the fifth anniversary

Problem

Laura is entitled to a 3% COLA (cost of living Adjustment) increase on her claim on each anniversary of benefits. COLA is compounded. Her basic monthly disability benefit without COLA is $2300. What would her benefit be on the 5th anniversary?

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Financial Accounting: What would her benefit be on the fifth anniversary

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Financial Accounting: What would her benefit be on the fifth anniversary

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