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1)What is the value of an ordinary annuity at the end of 20 years if $16,500 is deposited each year into an account earning 8.5%
1)What is the value of an ordinary annuity at the end of 20 years if $16,500 is deposited each year into an account earning 8.5% compound annually? How much of this value is interest? 2) How long will it take an investment of $5000 to triple if the investment earns interest at the rate of 5%/year compounded daily? 3) What is the effective rate of money invested at 4.5% compunded semi-annuallY?
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