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The annual effective interest rate i = 9%. Find the accumulated value (after 6 years) of the annuity that offers payment at a continuous rate
The annual effective interest rate i = 9%. Find the accumulated value (after 6 years) of the annuity that offers payment at a continuous rate of $1000 per annum for 4 years. After 4 years, payment terminates, but the balance still earns interest during the 5th and 6th year.
Select one:
a. 5674.32cross out
b. 5945.78cross out
c. 6152.84cross out
d. None of these answerscross out
e. 5891.93
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