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| rev | Admin | (Created page with "An investor decides to purchase a five-year annuity with an annual nominal interest rate of 12% convertible monthly for a price of X. Under the terms of the annuity, the investor is to receive 2 at the end of the first month. The payments increase by 2 each month thereafter. Calculate X. <ul class="mw-excansopts"><li>2015</li><li>2386</li><li>2475</li><li>2500</li><li>2524</li></ul> {{soacopyright | 2023 }}") | Nov 18'23 at 11:38 | +414 |