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Part 1: A level annuity pays 300 p.a. payable half-yearly in arrear for 7 years. Find the purchase price for an interest rate of

Part 1: A level annuity pays 300 p.a. payable half-yearly in arrear for 7 years. Find the purchase price for an interest rate of 4% per annum (a) effective, (b) convertible half-yearly, (c) convertible quarterly.

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