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Suppose that you have inherited an annuity that will begin making payments 6 years from now. It will initially pay $2,000, but each of the
Suppose that you have inherited an annuity that will begin making payments 6 years from now. It will initially pay $2,000, but each of the following 29 annual payments will be 3% larger than the prior payment. Assuming that the annual opportunity cost of capital is 14%, what is the value of this annuity today? Round your final answer to two decimals. Question 16 1 pts Suppose that you make 20 annual deposits of $3,000 in an account paying 12% APR with daily compounding. Assuming that the first deposit will occur 5 years from now and that each of the remaining deposit will occur exactly one year apart, how much money will be in the account 24 years from now? Round your final answer to two decimals
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