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Business, 21.10.2021 01:00 astultz309459

At a annual effective interest rate i, the present value of $100 per year, payable at the beginning of each year for ten years is $676. At the same interest rate, the accumulated value at the end of ten years of a single payment now of $100 is $259. It is desired to find the accumulated value (still at this same interest rate) at the end of 20 years of $100 per year, payable at the end of each year. In which of these ranges does the accumulated value lie?

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