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1. An annuity immediate pays 500 every year for 10 years. Calculate the present value at the following rates of interest: a. Annual effective interest

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1. An annuity immediate pays 500 every year for 10 years. Calculate the present value at the following rates of interest: a. Annual effective interest rate of 6% b. Nominal interest rate convertible monthly of 8% C. Nominal rate of discount convertible once every two years of 4%

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