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Payments of $100 are invested at the end of each year for 6 years. The payments earn interest at an annual effective rate of 6%.
Payments of $100 are invested at the end of each year for 6 years. The payments earn interest at an annual effective rate of 6%. The interest can be reinvested at an annual effective rate of 3% in the first 3 years and at an annual rate of x% in the last 3 years. Find the combined balance of the two accounts at t = 6.
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