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At an annual effective interest rate of 10.1%, an annuity immediate with 4N level annual payments of 900 has a present value of 8721.
At an annual effective interest rate of 10.1%, an annuity immediate with 4N level annual payments of 900 has a present value of 8721. Determine the fraction of the total present value represented by the first set of N payments and the third set of N payments combined.
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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian Edition volume 2
013269008X, 978-0133122855, 133122859, 978-0132690089
