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A group of concerned students has raised money to help victims of Hurricane Matthew in Haiti. They plan to invest the money to provide monthly
A group of concerned students has raised money to help victims of Hurricane Matthew in Haiti. They plan to invest the money to provide monthly payments to help a small town on the north coast rebuild homes. The town will receive the first payment in a month and the payment will be $ Each month after that, the town will receive a payment that is larger than the last payment. This pattern of payments will go on forever. Assume that the interest rate is APR. What is the value of the gift immediately after the first payment is made?
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