Find the present value of the annual deposits in part

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(a) Annual deposits are made into a fund at the beginning of each year of 20 years. The first deposit is $100 and the deposit increases by 3% each year thereafter. If fund earns 5% effective per the accumulated value immediately after the 20th deposit.

(b) Find the present value of the annual deposits in part(a).

(c) Find the present value of the annual deposits in part(a) if they continue forever.

Reference no: EM131560191

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