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Calculate the future value of ordinary simple annuity

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Reference no: EM132722294

Salem plans to deposit $2200 every 6 months for 15 years to save for his son's higher education. The rate of return will be 4% compounded semi-annually for the first 5 years and 8% compounded semi-annually for the subsequent 10 years. Calculate the future value of this ordinary simple annuity, IF HE STOPS payment AFTER 5 YEARS.

Reference no: EM132722294

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