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The answer 45.78 also incorrect! Please give another way to calculate!!! Question 7 O out of 10 points Brian buys a 10-year decreasing annuity-due with
The answer 45.78 also incorrect! Please give another way to calculate!!!
Question 7 O out of 10 points Brian buys a 10-year decreasing annuity-due with annual payments of 10, 9, 8, ..., 1. On the same x date, Jenny buys a perpetuity-due with annual payments. The first payment is for 1, the second payment is for 2, the third payment is for 3, and so on, with the tenth payment being for 10. For the eleventh payment (and all remaining payments), the payment size is 11. At an annual effective interest rate of i, both annuities have a present value of K. Calculate K. Give your answer as a decimal rounded to two places (i.e. X.XX). Note: I needed a financial calculator to solve this one. Selected Answer: 45.38 Response Feedback: IncorrectStep by Step Solution
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