A company made a deposit of $ 10,000 (the present value) in a ten-month term account, with interest compounded monthly. At the end of the operation, the amount obtained was $ 11,200. What was the annual and monthly interest rate of the operation?

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A:

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Q: If, starting one year from today, 12 equal annual deposits of $2,500 are made into an account…

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A: Future value refers to the value of future cash flow at a future date. It can be determined by…