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Jeff makes payments at the end of each year into an account for 10 years. The present value of Jeffs payments is 5,000. Ryan makes
Jeff makes payments at the end of each year into an account for 10 years. The present value of Jeffs payments is 5,000. Ryan makes a payment equal to Jeffs payment at the beginning of each year for 11 years into the same account. The present value of Ryans payments is 5,900. Calculate the amount of Jeffs payment.
Please do not use excel to solve this problem!
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