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Bob makes a series of 7 annual payments in arrears. The first payment is $10. Each subsequent payment through the 4 th payment increases by
Bob makes a series of 7 annual payments in arrears. The first payment is $10. Each subsequent payment through the 4 th payment increases by $10 from the previous payment. After the 4th payment, each payment decreases by $10 from the previous payment. Calculate the accumulated value of these payments at time 10 using an annual effective interes rate of 4.2%
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