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Consider the following annuity. During the first year, payments of $1000 are made continuously. Payments decrease by $50 each subsequent year for a total of

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Consider the following annuity. During the first year, payments of $1000 are made continuously. Payments decrease by $50 each subsequent year for a total of 12 years of payments. The annual effective interest rate is 6%. Find the PV of these payments at time 0

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