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An annuity-immediate makes annual payments of $500 for 8 years. Using an effective interest rate of 3% per annum, calculate the accumulated value of the

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An annuity-immediate makes annual payments of $500 for 8 years. Using an effective interest rate of 3% per annum, calculate the accumulated value of the annuity at the end of year 8. (use decimal number, rounded to the nearest 100th, without \$ sign, such as 1234.56 )

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