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Find present value of special annuity

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Question

A special annuity makes payments at the beginning of the year. The first payment is $100. In subsequent years each payment increases by $10 over what it was the previous year until 10 payments have been made at which time payments continue at that level in perpetuity.

Find the present value of this special annuity if i = 0.062.

Reference no: EM133227542

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