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8-7 After calculating the value of at interest rate i = .05, a student discovers that the value of Px is larger by .03


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8-7 After calculating the value of at interest rate i = .05, a student discovers that the value of Px is larger by .03 than the value used in the initial calculation. Find the amount by which the value of is increased when the correct value of Px+1 is used, given the following values used in the initial calculation: 9x = .01 9x+1 =.05 x+1 = 6.951

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