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Problem 6 - Annuities in Geometric Progression Consider an annuity-due with 14 annual payments. The first payment is 6000 at time 0 and each subsequent

Problem 6 - Annuities in Geometric Progression Consider an annuity-due with 14 annual payments. The first payment is 6000 at time 0 and each subsequent payment decreases by 5%. Find the AV of this annuity 2 years after the last payment at an annual effective rate of interest i=6%

AV=

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