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Find the present value and accumulated value of an annuity paying $200 at the end of every month for 5 years, then $250 every month
Find the present value and accumulated value of an annuity paying $200 at the end of every month for 5 years, then $250 every month for 6 years, and then $300 every month for 10 years. Assume an annual rate of interest compounded monthly of 8%. Find the value of this annuity after 5 years, after 10years, after 21years, and after 25years.
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