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You expect to receive $ 1 , 0 0 0 at the end of each of the next 3 years. You will deposit these payments

You expect to receive $

1, 000

at the end of each of the next

3

years. You will deposit these payments into an account that pays

8

percent compounded annually. What is the future value of these payments, that is

,

the value at the end of the third year?

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