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1. An annuity-immediate paying X at the end of first year, with each subsequent payment decreased by 60 for 30 years, has a present value of 31,300. If i=0.6%, calculate X.

a. 1,964

b. 1,986

c. 2,024

d. 2,025

e. 1,936

2. An annuity-immediate pays 40 per year for 10 years, then decreases by 1 per year for 19 years.

At an annual effective interest rate of 8%, the present value is equal to X. Calculate X.

a. 375

b. 301

c. 412

d. 458

e. 74

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92706622

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