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Payments of $5000 are made into a fund at the beginning of each year for ten years. The fund is invested at an annual effective
Payments of $5000 are made into a fund at the beginning of each year for ten years. The fund is invested at an annual effective rate of i. The interest generated is reinvested at 10%. The total accumulated value at the end of 10 years is $100,000. Find i.
The answer is i = 13.27815%, just need the steps to solve this.
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