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Suppose that interest rates in odd numbered years are 8% per annum effective, and in even numbered years 10% per annum effective. Find the present
Suppose that interest rates in odd numbered years
are 8% per annum effective, and in even numbered years 10% per annum effective. Find
the present value (i.e. at the start of year 1) of payments of $1,000 at the end of every two
years until the total amount of the payments is $10,000.
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