What is the compounded value of this payment at the end

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Reference no: EM131515218

For an ordinary annuity with 5 annual payments of $100 and a 10% interest rate, for how many years will the first payment earn interest, and what is the compounded value of this payment at the end? Answer these for the fifth payment as well (please provide the step-by-step approach and how to solve for the years with calculator).

Reference no: EM131515218

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