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please use formula An investor deposits $ 1000 at the beginning of each year in a special fund paying interest at i(1) = 7%. These

please use formula

An investor deposits $ 1000 at the beginning of each year in a special fund paying interest at

i(1) = 7%. These interest payments are made at the end of each year and then immediately deposited

in a bank account paying interest at i(1) = 2%. (Note that the deposits are also made at the end of

each year.)

(a) [6] How much money has been accumulated in the bank account at the end of 10 years?

(b) [4] How much money has been accumulated for the bank account and the fund totally at the

end of 10 years?

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