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At an annual effective interest rate of 10.9%, each of the following are equal to X: The accumulated value at the end of n years

At an annual effective interest rate of 10.9%, each of the following are equal to X:

The accumulated value at the end of n years of an n-year annuity-immediate

paying 21.80 per year.

The present value of a perpetuity-immediate paying 19, 208 at the end of each

n-year period.

Calculate X (Answer: 1, 960)

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