Find the future value of (1) a single payment of $40,000 at 7 percent for ten years,
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Find the future value of (1) a single payment of $40,000 at 7 percent for ten years, (2) ten annual payments of $4,000 at 7 percent, (3) a single payment of $12,000 at 9 percent for seven years, and (4) seven annual payments of $12,000 at 9 percent.
Determining an Advance Payment
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