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You have just purchased an increasing annuity-immediate for 75,000 that makes twenty annual payments as follows: (a) 5P, 10P, . . . , 50P during

You have just purchased an increasing annuity-immediate for 75,000 that makes twenty annual payments as follows: (a) 5P, 10P, . . . , 50P during years 1 through 10, and (b) 50P(1.05), 50P(1.05)^2 , . . . , 50P(1.05)^10 during years 11 through year 20. The annual effective interest rate is 7% for the first 10 years and 5%, thereafter. Solve for P. P=175.29 I need to know how to get this cause I can't figure it out

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