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You are given: Effective date of a decreasing annuity: 1 / 1 / 1 2 . Date of the first payment: 7 1 ? 1

You are given:
Effective date of a decreasing annuity: 1/1/12.
Date of the first payment: 71?12
Frequency of payments: Semiannually
Number of payments: 20
Semiannually decrease in payment: $100
Interest rate: 5% per year, compounded semiannually
Present value (at 11?18) of remaining payments after 1/1/18: $30000
Calculate the first semiannual payment x.
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