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4. You want to purchase an annuity with n payments of 1. You can receive the first payment at the end of year 5 and

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4. You want to purchase an annuity with n payments of 1. You can receive the first payment at the end of year 5 and the remaining payments at ten-year intervals thereafter. Let i be the annual effective interest rate. Find the price of the annuity. (a) 10n+5i-a5i $5li a10n+5|2 10 i 1012 a10n+511-410i 45 "10n+5i-agi $10i (e) 10n+5/8 45ji a 102

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