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please do without excell need done by hand 11. (10 pts) A perpetuity has an annual payments. The first payment is for $400 and then

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please do without excell need done by hand
11. (10 pts) A perpetuity has an annual payments. The first payment is for $400 and then payments increase by $50 each year until they become level at $1200. Find the value of this annuity at the time of the first payment using an annual effective interest rate at 5%

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