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Consider an annuity-immediate with monthly payments for twenty years. The payments are level in the course of each year, then increase by 2% for the
Consider an annuity-immediate with monthly payments for twenty years. The payments are level in the course of each year, then increase by 2% for the next year. Find the present value of this annuity if the initial payment is $1,200 and i=4%. (Round your answer to the nearest cent.) Question 4 1 pts Annual end-of-year deposits are made to a fund paying an annual effective rate of interest of 7%. The first deposit is $1,500 and then they go up by 4% annually. Interest from the 7% account is paid out annually and is reinvested at an annual effective discount rate of 5%. At the end of the thirty years, the funds are liquidated. Find the investor's accumulated value at the time of the liquidation. (Round your answer to the nearest cent.)
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