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FINANCIAL MATH d) An annuity immediate pays RM 500 per year for the first three years. After that, the annuity payments increase by RM50 per

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FINANCIAL MATH

d) An annuity immediate pays RM 500 per year for the first three years. After that, the annuity payments increase by RM50 per year for five years and then remain level for an additional six years. At a nominal rate of annual interest of 9.569% convertible monthly, what is the present value of this annuity

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