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No Excel show all work please! 1. Erik receives an eight-year annuity-immediate with monthly...

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Finance

No Excel show all work please!image

1. Erik receives an eight-year annuity-immediate with monthly payments. The first payment is $500 and payments increase by $10 each month. The payments are deposited in an account earning interest at a nominal rate of 6% convertible monthly. What is the balance in the account at the end of the eight years

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