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2. (12 points) The present value today of a 5 payment annuity immediate with annual payments of $20 per year is equal to two thirds

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2. (12 points) The present value today of a 5 payment annuity immediate with annual payments of $20 per year is equal to two thirds of the present value of a ten year immediate annuity with payments of $10 at the end of each of the first 5 years and then $30 at the end of each of the last 5 years. What is the annual effective interest rate implied by this equality

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