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2) An annuity has an effective interest rate of j = 2% per period for the first 30 periods, then has an effective interest rate
2) An annuity has an effective interest rate of j = 2% per period for the first 30 periods, then has an effective interest rate of j = 3% for the next 20 periods. Payments at the end of each period are $500 for the first 40 periods and then $400 for the next 10 periods. Find the present value
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