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An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at
An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the childs birth. The purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: $ 840 Second birthday: $ 840 Third birthday: $ 940 Fourth birthday: $ 850 Fifth birthday: $ 1,040 Sixth birthday: $ 950 After the childs sixth birthday, no more payments are made. When the
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