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You are given an annuity-immediate paying 11 for 11 years, then increasing by one per year for 9 years and then the remaining payment stay
You are given an annuity-immediate paying 11 for 11 years, then increasing by one per year for 9 years and then the remaining payment stay level as the last payment , forever. The annual effective rate of interest is 3.5%. Calculate the present value of this annuity
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