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Question
You expect to receive $1,000 at the end of each of the next 3 years. You will deposit these payments into an account which pays 10 percent compounded semiannually. What is the future value of these payments, that is, the value at the end of the third year?
a. $3,000
b. $3,310
c. $3,318
d. $3,401
e. $3,438
Answer
This answer is hidden. It contains 472 characters.
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