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Please show the steps, I tried different ways but turly have no idea how to get the right answer 83. An annuity immediate has a
Please show the steps, I tried different ways but turly have no idea how to get the right answer
83. An annuity immediate has a first payment of 100 and increases by 100 each year until the payments reach 500 (e.g. the last payment is 500). The remaining payments are a perpetuity immediate of 500 beginning in year 6. Find the present value with an effective annual yield rate of 6.5%. Answer: 6808.92Step by Step Solution
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