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| rev | Admin | (Created page with "An annuity-immediate provides annual payments of 10 for 20 years. Immediately following the 11th payment, the annuity is exchanged for a perpetuity-immediate of equal value with semi- annual payments. The present values at the time of the exchange are based on an annual effective interest rate of 6%. The first payment of the perpetuity is K and each subsequent payment is 0.5% larger than the previous payment. Calculate K. <ul class="mw-excansopts"><li>1.53</li><li>1.67...") | Nov 18'23 at 20:23 | +550 |