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Find an expression for the exact effective annual rate of interst at which payments of $300 at the present, $200 at the end of one
Find an expression for the exact effective annual rate of interst at which payments of $300 at the present, $200 at the end of one year, and $100 at the end of two years will accumulate to $700 at the end of two years.
Please show me the process and formula in detail. Thank you!! :)
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