An annuity immediate has a first payment of 200 and, Ask an Expert

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An annuity immediate has a first payment of 200 and increases by 100 each year until payments reach 600. Afterwards, there are 5 further payments each at the end of the following years at the constant level of 600. Find the present value at annual effective rate of 5.5%. Please go through with explanation.

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Category:- Financial Management
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