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An account credits interest in such a way that the monthly discount factor is constant, regardless of the month in which money is being discounted.
An account credits interest in such a way that the monthly discount factor is constant, regardless of the month in which money is being discounted. Sue deposits into the account exactly year after she made a deposit of into the account. The total present value of Sue's deposits, one year before her first deposit, is Determine the annual accumulation factor for deposits into this account.
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