Question 8.12 Joel purchases a perpetuity-due for 3,150 with annual payments of 150. At the same price and interest rate, Ellen purchases an annuity-immediate with 15 annual payments that begin at amount P and increase by 20 each year thereafter. Calculate P. A 161.00 B 175.44 C 181.53 D 183.96 E 200.07

Question 8.12 Joel purchases a perpetuity-due for 3,150 with annual payments of 150 . At the same price and interest rate, Ellen purchases an annuity-immediate with 15 annual payments that begin at amount P and increase by 20 each year thereafter. Calculate P. A 161.00 B 175.44 C 181.53 D 183.96 E 200.07 Question 8.12 Joel purchases a perpetuity-due for 3,150 with annual payments of 150 . At the same price and interest rate, Ellen purchases an annuity-immediate with 15 annual payments that begin at amount P and increase by 20 each year thereafter. Calculate P. A 161.00 B 175.44 C 181.53 D 183.96 E 200.07