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March 25, 2017

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Calculate the future value of an ordinary annuity consisting of annual payments of $1,000 for 4 years if the payments earn 10.70% compounded annually for the first 2 years and 9% compounded annually for the last 2 years. For full marks your answer(s) should be rounded to the nearest cent.

  • college math - ,

    It's probably going to be around $6. Just say $6.

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