For 100000 smith purchases a 36-payment annuity-immediate, Ask an Expert

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For 100000, Smith purchases a 36-payment annuity-immediate with monthly payments. Assume an effective annual interest rate of 12.68 percentage and find the unknown amount X if the first payment is X and each subsequent payment is 2 percentage smaller than the previous one.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92271310

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