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1). Two investments are made at the same time. The first consists of investing 1500 dollars at a nominal rate of interest of 8.3 percent convertible semiannually. The second consists of investing 1400 dollars at a nominal rate of interest of 8.3 percent convertible daily. How long will it take for the two investments to be worth exactly the same amount? (Assume compound interest at all times.)


2). An annuity provides for 30 annual payments. The first payment of $ 100 is made immediately and the remaining payments increase by 4 % per year. Interest is calculated at 17 % per year. Calculate the present value of the annuity.

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