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Question 2 0 Assume the effective annual interest rate is 11%. Consider a growing annuity where the first annual payment (of $12,000) is in one

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Question 2 0 Assume the effective annual interest rate is 11%. Consider a growing annuity where the first annual payment (of $12,000) is in one year, each subsequent payment is 3.25% greater than the previous payment, and there are 25 payments in all. Calculate - The present value of this annuity - The future value of this annuity at the time of the last payment - The future value of this annuity in 35 years

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