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Company X will provide Betty with payments made at the end of each quarter for 10 years. Each quarterly payment is $1,000 during the 1st
Company X will provide Betty with payments made at the end of each quarter for 10 years. Each quarterly payment is $1,000 during the 1st year, $1,050 during the 2nd year and increasing by 5% each year thereafter. How much money should Company X set aside today in an account earning an 8% effective annual rate of interest that will be sufficient to make all the payments to Betty? 33,700 O 32,730 34.710 34,740 40,000 MacBook Air FS $ 62 & 7 5 02 6 8 9 Rw T Y
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