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Starting in five years Fernon will deposit $500 every year for ten years in a fund earning an annual effective rate of interest i. a)

Starting in five years Fernon will deposit $500 every year for ten years in a fund earning an annual effective rate of interest i.

a) Find an expression for the present value of this fund

b) What is the accumulates value in the fund the day the final payment is made if the fund earns an annual effective rate of 5%

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