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Please show me the steps to get to the right answer, thank you! Answer(s): (Your response(s) are shown below, followed by the correct answer(s).) An

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Please show me the steps to get to the right answer, thank you!
Answer(s): (Your response(s) are shown below, followed by the correct answer(s).) An author just signed a lucrative contract with a publisher that offers to pay her the amount of $700 at the end of year 8 when the book is scheduled to be released. The author, being profligate, desires to receive a different package: an immediate payment of $100 that is followed by an annuity (an equal amount) to be paid at the end of each year for 8 consecutive years. What annuity will make his package equivalent to the publisher's advance. Use an interest rate is 6.00%. 54.62 Place your answer in dollars and cents. Do not use a dollar sign. Work answers out to at least 4 decimal points of accuracy

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