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What is the effective rate of payments

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Q1. If you are provided with semi-annual payments of $500 at a rate of 1,1% compounded monthly, what is the effective rate of payments?

Q2. If you win the "Set for Life" BC Lottery Ticket, which provides you with $1000/week for 25 years, what is the value of that today, if you can reliably earn 3,5% compounded annually in a safe investment?

Reference no: EM133123526

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