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11. Jeff and Jason each spend X dollars to purchase an annuity. Jeff buys a perpetuity-immediate, which makes annual payments of 48. Jason buys a
11. Jeff and Jason each spend X dollars to purchase an annuity. Jeff buys a perpetuity-immediate, which makes annual payments of 48. Jason buys a 22-year annuity-immediate, also with annual payments. The first payment is 100, with each subsequent payment k% larger than the previous year's payment. Both annuities use an annual effective interest rate of k%. Calculate k
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