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Posted on Oct 05, 2024

For an ordinary annuity with five annual payments of $100 and a 10% interest rate, how many years will the first payment earn interest, and

For an ordinary annuity with five annual payments of $100 and a 10% interest rate, how many years will the first payment earn interest, and what will this payment's value be at the end?

Why am I getting 610.51 as the answer? Pls show calculator steps.

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