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Assume that you expect to make 10 deposits of 500 at the beginning of each year starting today (suppose today is 1st January) in a
Assume that you expect to make 10 deposits of 500 at the beginning of each year starting today (suppose today is 1st January) in a savings account (so you will be depositing into this saving account until the beginning of the 10th year since this is an annuity due). If the annual interest rate you earn is 5% annually, how much will you have in your account at the end of the 10th year?
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