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Problem 3. The present value of a 25-year annuity immediate with a first payment of 2500 and decreasing by 100 every ten years thereafter is

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Problem 3. The present value of a 25-year annuity immediate with a first payment of 2500 and decreasing by 100 every ten years thereafter is X. Assuming an annual effective interest rate of i = 0.05, calculate X

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