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3. Suppose that the effective annual interest rate is 7.5%. Find the present value of the annuity-immediate consisting of 20 annual payments forming an arithmetic

3. Suppose that the effective annual interest rate is 7.5%. Find the present value of the annuity-immediate consisting of 20 annual payments forming an arithmetic progression: $200, $190, Find the present value of the annuity-immediate consisting of 20 annual payments forming an arithmetic progression: $500, $490, ...,$310. (a) ,$10. (b)

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