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You are given an annuity immediate with 11 annual payments of 100 and a final balloon payment at the end of 12 years . At
You are given an annuity immediate with 11 annual payments of 100 and a final balloon payment at the end of 12 years . At an annual effective interest rate of 3.5%, the present value at time 0 of all payments is 1000. Using an annual effective interest rate of 1%, calculate the present value at the beginning of the ninth year of all remaining payments
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