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5. Samantha buys a 12-year annuity immediate with semi-annual payments for a price X. Payments start at 5000, and decrease 500 per payment until they

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5. Samantha buys a 12-year annuity immediate with semi-annual payments for a price X. Payments start at 5000, and decrease 500 per payment until they reach 2000, then remain level at that amount for the remainder of the term. The nominal annual interest rate compounded quarterly is 8% Find X

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