My Notes 5. 1 points o2 Submissions Used An annuity pays 1 at the end of the first year. The payments increase by 4% for the next 5 years, the payments increase by 5% for the following 5 years, and then the payments increase by 896 forever. Calculate the present value of this annuity given an annual effective interest rate of 12% 19.09 14.2 19.5 33.87 28.41