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2. How many types of annuities. Discuss terms, payment date and conversion period. 3. Calculate following problem with ordinary annuities: Payments of $1250 each are

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2. How many types of annuities. Discuss terms, payment date and conversion period. 3. Calculate following problem with ordinary annuities: Payments of $1250 each are made at the end of every year for 5 years to a savings account. Find the accumulated value or future value of the account at the end of 5 years. The interest rate is 5% compounded annually

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