Problem 5 - Annuities with Block Payments & Perpetuities Michael made the following deposits in a fund paying annual effective rate of interest of 3.7%: (i) $80 at the beginning of years 1 - 9 (ii) No deposits at the beginning of years 10 - 17 (iii) $120 at the beginning of years 18 - 34. How much did Michael accumulate at the end of 34 years? AV = 9667.112606