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Find the effective monthly interest i and Bob saved a 30 -year annuity of $1,000,000. The investment company pays annual percent yield 5% compounded monthly.
Find the effective monthly interest i and Bob saved a 30 -year annuity of $1,000,000. The investment company pays annual percent yield 5% compounded monthly. Bob gets the payment at the end of each month. (a) Find the monthly payinent before the last payment. (b) Find the amount of the last payment. (c) What is the value at the end 20 years
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