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Tyler and Eunice just got married. As a wedding present Eunice s father purchased an annuity that will give them payments every other year

Tyler and Eunice just got married. As a wedding present Eunices father purchased an annuity that will give them payments every other year starting one year from today (at times 1, 3, 5, . . . ,19). The effective annual rate is 4%. The first payment is for 3000 and increases by 100 each payment. How much did Eunices father pay for this annuity? 

 
 
  


 

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