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An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year are 250/quarter. Year 2 payments are each
An annuity pays quarterly for 16 years at the beginning of each quarter. Payments during the first year are 250/quarter. Year 2 payments are each 105. The payments go up by 150 for each subsequent year but are level within each year. AEIR = 5%, please find the accumulated value of this annuity just prior to the payment at t=15.
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