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Business, 08.04.2020 00:57 thezbell

A 20-year annuity pays 100 every other year beginning at the end of the second year, with additional payments of 300 each at the ends of years 3, 9 and 15. The effective annual interest rate is 4 percent. Calculate the present value of the annuity.

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A 20-year annuity pays 100 every other year beginning at the end of the second year, with additional...
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