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[1/1 Formula]
    Work: Calculate the value of equation ((2.94%/1)+(2.94%/1.03)+(2.94%/(1.03)^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12) .
    Question type: Mathematical calculation
    Solution:
          ((2.94%/1)+(2.94%/1.03)+(2.94%/(1.03)^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+(2.94%/1.03)+(2.94%/(1.03)^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+(2.94%/(1.03)^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+(2.94%/1.03^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+(2.94%/1.03^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+0.026905+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+0.026905+(2.94%/1.03^4)+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+0.026905+0.026122+(1/(1.03)^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+0.026905+0.026122+(1/1.03^4))/(1.03)^(4/12)
        =(0.0294+0.028544+0.027712+0.026905+0.026122+0.888487)/(1.03)^(4/12)
        =1.02717/(1.03)^(4/12)
        =1.02717/1.03^(4/12)
        =1.02717/1.03^0.333333
        =1.02717/1.009901624099467
        =1.017099

    Answer:((2.94%/1)+(2.94%/1.03)+(2.94%/(1.03)^2)+(2.94%/(1.03)^3)+(2.94%/(1.03)^4)+(1/(1.03)^4))/(1.03)^(4/12)=1.017099


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