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Suppose you purchase for 39896.18 dollars an annuity that earns 6.5 percent effective. The annuity will make 30 annual payments, with the first coming one

Suppose you purchase for 39896.18 dollars an annuity that earns 6.5 percent effective. The annuity will make 30 annual payments, with the first coming one year from now, and each payment will be 125 dollars larger than the previous one. What will be the amount of the 12th payment? Answer = dollars

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