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You are going to receive 10 annual payments. The first payment which is equal to $500 will be paid one year from now, and the
You are going to receive 10 annual payments. The first payment which is equal to $500 will be paid one year from now, and the annual payments grow by 2 percent per year. How much will you have in your account at the end of year 10, if the interest rate is 6% Effective annual rate?
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