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Problem 2.10 A 10-year annuity-immediate pays 100 quarterly for the first five years. Starting year 6, the annuity immediate pays 300 quarterly for the remaining

Problem 2.10 A 10-year annuity-immediate pays 100 quarterly for the first five years. Starting year 6, the annuity immediate pays 300 quarterly for the remaining five years. There is a nominal annual interest of 8% convertible quarterly. Find the present value of this annuity.

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