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A 5 - year annuity - immediate pays 1 0 at the end of each month for 6 months, 2 0 at the end of
A year annuityimmediate pays at the end of each month for months, at the end of each month for the next months, at the end of the next months, and so on until a final payment of is made at the end of years.
The nominal annual interest rate is compounded monthly.
Calculate the present value of the annuityimmediate.
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