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500,000 is used to purchase a 10 year inflation adjusted annuity-due Calculate the first payment of this annuity, if inflation is anticipated to be 2.5%

500,000 is used to purchase a 10 year inflation adjusted annuity-due Calculate the first payment of this annuity, if inflation is anticipated to be 2.5% per year and the effective rate of interest is 5.0%. Find the first payment of annuity

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