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You are given the following information: a) The present value of a 5n-year annuity-immediate of 1 at the end of every year is 9.7578 b)

You are given the following information:

a) The present value of a 5n-year annuity-immediate of 1 at the end of every year is 9.7578

b) The present value of a 5n-year annuity-immediate of 1 at the end of every second year is 4.7560.

c)The present value of a 5n-year annuity-immediate of 1 at the end of every thirds year is K.

Determine K assuming an annual effective interest rate of i.

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