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Tim makes four payments of 3000 at four year intervals starting today (annuity due). Interest is credited at a nominal interest rate of 6% compounded

Tim makes four payments of 3000 at four year intervals starting today (annuity due). Interest is credited at a nominal interest rate of 6% compounded semiannually for the first 10 years and nominal discount rate of 3% compounded monthly thereafter. Calculate the accumulated value 20 years from now.

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