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1. A person deposited $500 into a new investment at the end of 2001, then $1250 from 2002 until 2014, then $750 in 2015, each
1. A person deposited $500 into a new investment at the end of 2001, then $1250 from 2002 until 2014, then $750 in 2015, each time at the end of the year.
Assuming 5% annual interest, how much would the investment be worth at the end of 2015? Round to the nearest dollar.
2. A woman purchases an ordinary annuity that will pay $10,000 per month for the next 10 years. Assuming 5% annual interest compounding monthly, how much would this cost? Round to the nearest dollar.
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