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Calculate x for jack

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problem 1: Jack inherited a perpetuity-due, with annual payments of 15,000. He immediately exchanged the  perpetuity for a 25-year annuity-due having the same present value. The annuity-due has annual payments of X. All the present values are based on an annual effective interest rate of 10% for the first 10 years and 8% thereafter. Calculate X

Reference no: EM132793066

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