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2. (1pt) You plan to make monthly deposits of $10 into a retirement account that pays 6% APR compounded monthly. If your firs

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Answer #1

(1+r) - 1 FutureValue Annuity Due = PresentValue *

Where r is the interest rate per period

n is the no of periods

   FutureValue Annuity Due = 10* (1 + 0.005) 300 - 1 0.005

= 10 * 1004.52

= $ 10,042.5

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