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What is the value for a

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You want to receive $10,000 ten years from today and a retirement annuity of $50,000 per year for 15 years with the first payment 15 years from today.

To pay for this, you will make five payments of $A annually beginning now and four annual payments of $2A with the first payment thirteen years from now.

With an interest rate of 8%, what is the value for A?

Reference no: EM132348546

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