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1. What is the present value of a 5 year geometrically increasing annuity which increases by 5% each month if the first payment is $5

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1. What is the present value of a 5 year geometrically increasing annuity which increases by 5% each month if the first payment is $5 and each payment is made at the end of each month? Assume that ;(2) = 6%. A. $1,423.58 B. $1,425.58 C. $1,427.58 D. $1,429.58 E. $1,431.58

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