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Wendy deposits 1000 at the beginning of each year for 15

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Wendy deposits $1,000 at the beginning of each year for 15 years into a savings account. During the first 5 years, the annual effective interest rate is 4%. During the second 5 years, the annual effective interest rate is 5%. During the third 5 year period, the annual effective interest rate is 6%. Calculate the accumulated value in the account after 15 years.

Reference no: EM13600736

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