Assuming an interest rate of 12% pa convertible monthly: Calculate the combined present value of an immediate annuity payable monthly in arrears such that payments are 1,000 pa for the first 6 years and 400 pa for the next 4 years, together with a lump sum of 2,000 at the end of the 10 years (a) 3 marks] b) Calculate the amount of the level annuity payable continuously for 10 years having the same present value as the payments in (a)