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Suppose that $100 is to be received at the end of each year for 10 consecutive years, beginning in one year, with one exception. The
Suppose that $100 is to be received at the end of each year for 10 consecutive years, beginning in one year, with one exception. The amount received at the end of year 3, and only in year 3, is $500 instead of $100. What comes closest to the value of these amounts at the end of year 10 if the interest rate is 2%?
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