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2. (10 points) An annuity pays 1 dollar at time 1/m, 2/m, ..., 1. The annual effective interest rate is given by i. Determine the

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2. (10 points) An annuity pays 1 dollar at time 1/m, 2/m, ..., 1. The annual effective interest rate is given by i. Determine the accumulated value of this annuity at time 1 (in terms of m and i)

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