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(1 point) (Exercise 3.18) Deposits of $1500 are placed into a fund at the beginning of each year for the next 24 years. After 34

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(1 point) (Exercise 3.18) Deposits of $1500 are placed into a fund at the beginning of each year for the next 24 years. After 34 years annual payments commence and continue forever, with the first payment at the end of the 34 th year. Find the amount of each payment if the effective rate of interest is 8.7%. ANSWER = $

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