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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. math exams: Question FM 11/21/2011 03:19

Monday, November 21, 2011

Question FM 11/21/2011 03:19

You invest $\$300$ at time 8 years, $\$600$ at time 9 years, $\$900$ at time 10 years, and so on, up to the last payment at time 20 years. What is the accumulated value of these payments at time 31 years using an annual effective rate of interest of $3\%$.

Ans: $300(Ia)_{\bar{13}}(1.03)^{24}$

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