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Patty expects to recieve payments of $2000 at the end of each year for 3 years, with payments beginning one year from now. Hannah expects
Patty expects to recieve payments of $2000 at the end of each year for 3 years, with payments beginning one year from now. Hannah expects to recieve pagments of $2000 at the end of 6 years, also with payments beginning one year from now. With an annual effective interest rate of i% for both accounts, the present value of Hannah's payments is 50% more than the present value of Patty's payments. Determine i. Please write out and show steps
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