If the effective rate of interest is 10 per payment period, Financial Management

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If the effective rate of interest is 10 per payment period

An annuity-immediate consists of a first payment of $100, with subsequent payments increased by 10% over the previous one until the 10th payment, after which subsequent payments decreases by 5% over the previous one. If the effective rate of interest is 10% per payment period, what is the present value of this annuity with 20 payments?

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Financial Management: If the effective rate of interest is 10 per payment period

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