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A ten-year annuity-due with annual payments pays 150 today

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A ten-year annuity-due with annual payments pays $150 today, and each subsequent payment decreases by $10 per year for 4 years. The next payment is the same, but then each subsequent payment increases by $10 per year for 4 more years. The annual effective interest rate is 6%. Determine the present value of these payments.

Reference no: EM13602083

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