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Please refer to the table equation below if necessary. Thank you! In a series of 40 payments the first 10 payments are $10 each, the

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Please refer to the table equation below if necessary. Thank you!

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In a series of 40 payments the first 10 payments are $10 each, the second 10 payments are $20 each, the third 10 payments are $30 each, and the final 10 payments are $40 dollars each. The effective interest rate per period is i = 5%. (a) Find the accumulated value of the annuity at the time of the last payment. (b) Find the present value of the annuity one period before the first payment. Hint: For part (b) the timeline starts at t = = 0, the first payment occurs at t payment occurs at t = 40; = 1, and the last

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