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A 10-year annuity-due pays 50 quarterly for the first 5 years and 100 quarterly for the last 5 years. The annuity earns at a nominal
A 10-year annuity-due pays 50 quarterly for the first 5 years and 100 quarterly for the last 5 years. The annuity earns at a nominal rate of 6% convertible quarterly. What is the present value of this annuity?
A) 1978 B) 2034 C) 2077 D) 2119 E) 2165
answer is E. Please show me all the steps.
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