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A simple annuity pays 1 0 0 0 at the end of the first year. The payment increases by 3 % per year to compensate

A simple annuity pays $1000$ at the end of the first year. The payment increases by $3 %$ per year to compensate for inflation. What is the present value of this annuity on the basis of a rate of $7 %$ p $.$ a $.,$ if it runs for $20$ years?

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A simple annuity pays 1 0 0 0 at the end of the first year. The payment increases by 3 % per year to compensate

A simple annuity pays 1000 at the end of the first year. The payment increases by 3% per year to compensate for inflation. What is the present value of this annuity on the basis of a rate of 7% p.a., if it runs for 20 years?

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A simple annuity pays $1000$ at the end of the first year. The payment increases by $3 %$ per year to compensate for inflation. What is the present value of this annuity on the basis of a rate of $7 %$ p $.$ a $.,$ if it runs for $20$ years?