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2 Problems
1. Calculate the present value of 20 payments of $1000 paid every two years starting
immediately, if d = 10%.
2. Bill deposits $50 into a savings account every six months. His first deposit is made
today. How much will Bill have in his account immediately before his 25th deposit if
i(2) = .06?
3. Given a8 = 10 , find a9 .
Solutions
1. $5,185.36
2. $1,772.96
3. 11