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4. [Arithmetic Progression ] Consider an eight-year annuity - immediate with daily payments, the first payment being $25 and the daily increase being $2. Calculate

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4. [Arithmetic Progression ] Consider an eight-year annuity - immediate with daily payments, the first payment being $25 and the daily increase being $2. Calculate the PV using i=3.3%. ANS: $7,245,739-376

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