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Find how much will need to be in the account to sustain

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Question 1: An annuity that pays out payments that increase by 0.75% each payment period will be paid out over a 10 year period will be purchased with interest of 6% compounded monthly. If the payments will start at $1000 the first month, how much will need to be in the account to sustain the 10 years of payments?

Reference no: EM132591905

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