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8. (10 points) Deposits of $100 are made at the end of each calendar year from 2014 through 2019 inclusive. The resulting fund is to

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8. (10 points) Deposits of $100 are made at the end of each calendar year from 2014 through 2019 inclusive. The resulting fund is to be used to buy a perpetuity with annual payments following the pattern X, 4X, 7X, 10X, ... with the first payment on December 31, 2021. If the annual effective rate of interest is 5%, find X. A. 0.558 B. 0.567 C. 0.576 D. 0.585 E. 0.594

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