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Consider an annuity-due with 12 annual payments. The first payment is 4000 at time 0 and each subsequent payment decreases by 5%. Find the AV

Consider an annuity-due with 12 annual payments. The first payment is 4000 at time 0 and each subsequent payment decreases by 5%. Find the AV of this annuity 2 years after the last payment at an annual effective rate of interest i=6%.

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