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Posted on Jul 30, 2024

An annuity pays $ 1 0 , 0 0 0 every 5 years for 6 times. The effective annual interest rate is 7 % .

An annuity pays $

10, 000

every

5

years for

6

times. The effective annual interest rate is

7 % .

Calculate the future value immediately after the last payment is made, if the first payment occurs

5

years from now.

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