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Please do both correctly. Thankyou so much in advance 1. 2. Determine the accumulated value after 10 years of deposits of $263.00 made at the
Please do both correctly. Thankyou so much in advance
1.2.
Determine the accumulated value after 10 years of deposits of $263.00 made at the beginning of every year and earning interest at 3%, with the payment and compounding intervals the same. The accumulated value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns interest at 5.9% compounded quarterly. He saves for seven years, then converts his savings into an annuity that pays him $1,000 at the beginning of every three months for thirteen years. What is the size of the deposit he makes while he is saving? The size of the deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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