What was the size of each payment
Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 9%/year compounded monthly. If the future value of the annuity after 14 years is $50,000, what was the size of each payment?
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Taking the water and the air in the room to be closed system, can the system be regarded as a pure substance during the process? After the process is completed?
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