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Mike deposits 1000 at the end of each year in an investment fund earning an annual effective interest rate of 10.7%. The interest from this
Mike deposits 1000 at the end of each year in an investment fund earning an annual effective interest rate of 10.7%. The interest from this investment fund is paid at the end of each year into a savings account which earns an annual effective interest rate of 2.1%. Find Mike's combined total accumulated value at the end of 25 years.
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