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An author just signed a lucrative contract with a publisher that offers to pay her the amount of $ 9 0 0 at the end
An author just signed a lucrative contract with a publisher that offers to pay her the amount of $ at the end of year when the book is scheduled to be released. The author, being profligate, desires to receive a different package: an immediate payment of $ that is followed by an annuity an equal amount to be paid at the end of each year for consecutive years. What annuity will make his package equivalent to the publisher's advance. Use an interest rate is
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