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Find the accumulated value at time 15 years of payments of $300 at time 5 years, 6 years, and so on, with the last payment
Find the accumulated value at time 15 years of payments of $300 at time 5 years, 6 years, and so on, with the last payment at time 10 years. Each payment is made at the end of the year and given the annual effective interest rate is 3% per annum.
The answer given is $2250 but I don't know how to do it.
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