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You purchase a growing annuity. The growing annuity will make a payment of $10,000 one year from today. The payment will increase by 6.2% per

You purchase a growing annuity. The growing annuity will make a payment of $10,000 one year from today. The payment will increase by 6.2% per year. There will be a total of 30 payments. You require a rate of return of 10.6% compounded annually. How much should you pay for the growing annuity?

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