Problem 4.5: It is reported that the PV of an annuity paying 2000 at the end of each year for X years is 12,000, and that the PV of a annuity paying 300 at the end of each year for 4 years is 1000. find the PV of an annuity paying 1000 at the end of each year for X years. (Note there is a single interest rate governing the market as a whole.)