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An annuity pays $1.054 at the end of k-th year for 20 years. The effective interest rate is 9% per annum. The present value of

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An annuity pays $1.054 at the end of k-th year for 20 years. The effective interest rate is 9% per annum. The present value of this annuity is calculated as 220]; . Determine j. Round the answer to the nearest hundredth percent. (Input 1.23 if the answer is 1.234%.)

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