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Herbert buys an annuity for 2 , 5 0 0 . He will receive payments of 5 0 0 in one year, with payments increasing

Herbert buys an annuity for 2,500. He will receive payments of 500 in one year, with
payments increasing by 3.5% each year for six years. Compute i.(You won't be able
to solve this algebraically, use the cash flow calculator)[8.05%]
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