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You are given an annuity-immediate with 11 annual payments of 100 and a final payment at the end of 12 years. At an annual effective

You are given an annuity-immediate with 11 annual payments of 100 and a final 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 1,000. Calculate the final payment.

Answer is 150.87

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