The annual effective interest rate is 12 a ten-year


The annual effective interest rate is 12%. A ten-year continuous annuity makes payments totalling $30 during the first year, $40 during the second year, $50 during the third year, and so on. Within each year the payments are level. Calculate the accumulated value of this annuity.

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Financial Management: The annual effective interest rate is 12 a ten-year
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