Question

You are to receive royalties for an internet article that you wrote. You will receive $5,000...

You are to receive royalties for an internet article that you wrote. You will receive $5,000 at the end of the first year but that value will decrease by 10% every year until the end of year 10. If you invest these proceeds at an interest rate of 9% annual compounded monthly how much will you have at the end of 10 years?

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