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OpenStudy (anonymous):
1. Mike’s Sport Shop deposits $3,600 at the end of each year for 12 years at 7% annual interest. a. How much will this ordinary annuity be worth at the end of the 12 years? Answer: b. How much more will this annuity be worth (annuity due) if Mike deposits the money at the beginning of each year instead of at the end of each year? Answer:
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