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  • 21-10-2022
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8. A 10-year annuity paying $x at the beginning of every year (i.e. the first of ten payments is made
today) is worth the same (today) as an annuity of $200 payable every 6 months for 10 years (20
payments), the first payment of which is due 66 months from now.
If the annual interest rate (compounded annually) is 4%, find x.

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