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Michael deposits 200 into a bank account at t=0. The bank accredits interest at the end of each year at a FOI = 1/(4+t). Annual
Michael deposits 200 into a bank account at t=0. The bank accredits interest at the end of each year at a FOI = 1/(4+t). Annual interest payments are to be reinvested into an account that pays an annual effective rate of 3%. The total accumulated amount at t=3 is equal to X. Calculate X.
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