(adsbygoogle = window.adsbygoogle || []).push({}); 1. 5. A twenty year annuity has end of month payments. The first year the payments are each $100. In subsequent years each payment increases by $10 over what it was the previous year. Find the present value of the annuity if i = 4% is the effective annual interest rate.

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# Homework Help: Theory of interest question.

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