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Dipper has a 10 year increasing annuity immediate that pays $100 at the end of the...

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Statistics

Dipper has a 10 year increasing annuity immediate that pays $100at the end of the first year, $200 at the end of the second year,... , and $1000 at the end of the 10th year. He exchanges theannuity for a perpetuity of equal value that pays X at the end ofeach year. If the effective annual interest rate is 3%, find thevalue of X

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Hello Sir MamYOUR REQUIREDANSWER IS 13452Dipper has 10 year increasing annuity immediate that pays 100at the end of the first year 200 at the end of the second    See Answer
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