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An annuity writer sells an annual perpetuity-immediate for 16,000 . The first payment is 1,000 and the payments decrease by r% each year. The annual

An annuity writer sells an annual perpetuity-immediate for 16,000 . The first payment is 1,000 and the payments decrease by r% each year. The annual effective yield rate is 5.7%. Calculate r. 0.52 0.55 0.62 0.73 0.91

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