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Please show work !! A 5-year annuity has a series of payments 1, 2, 3, 2, 1 with the first payment made at time t
Please show work !!
A 5-year annuity has a series of payments 1, 2, 3, 2, 1 with the first payment made at time t = 0 and each subsequent payment occurring one year later than the previous. The present value (i.e. value at time 0) of this annuity is 8.41 using an effective annual interest rate of i. A 6-year annuity has a series of payments 1, 2, 3, 3, 2, 1 with the first payment made at time t = 0 and each subsequent payment occurring one year later than the previous. Find the present value (i.e. value at time 0) of the 6-year annuity at the interest rateStep by Step Solution
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