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To accumulate $8000 at the end of 3n years, deposits of 98 are made at the end of each of the first n years and
To accumulate $8000 at the end of 3n years, deposits of 98 are made at the end of each of the first n years and 196 at the end of the next 2n years. The effective annual rate of interest is i . You are given 1 2 n i . Determine i . Use S = ((1+i)^n)/i .
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