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Business, 10.03.2020 01:33 tyijiapostell

(5) Matt inherited as a trust a fifteen-year annuity-immediate with annual payments. He has been told that the annuity payments earn compound interest at a level rate and that at the end of fifteen years, their accumulated value will be $37,804.39. He has further been assured that figured at this same rate of interest, the value of his inheritance was $15,077.10. The trust executor will not reveal the amount of the annual payments. Determine this amount and also the annual effective interest rate earned by the annuity payments.

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(5) Matt inherited as a trust a fifteen-year annuity-immediate with annual payments. He has been tol...
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