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Please show as much work as possible. Answer should be: 2514.76 Problem 16.21 | Carol and John shared equally in an inheritance. Using his inheritance,
Please show as much work as possible. Answer should be: 2514.76
Problem 16.21 | Carol and John shared equally in an inheritance. Using his inheritance, John immediately bought a 10-year annuity-due with an annual payment of 2,500 each. Carol put her inheritance in an investment fund earning an annual effective interest rate of 9%. Two years later, Carol bought a 15-year annuity-immediate with annual payment of Z. The present value of both annuities was determined using an annual effective interest rate of 8%. Calculate ZStep by Step Solution
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