Question: b Exercise (2.66) A 5-year annuity-immediate has a first-year payment of 1,000. The subsequent payments decrease by 100 each year. Find the present value of

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b Exercise (2.66) A 5-year annuity-immediate has a first-year payment of 1,000.

Exercise (2.66) A 5-year annuity-immediate has a first-year payment of 1,000. The subsequent payments decrease by 100 each year. Find the present value of this annuity based on an annual effective rate of 6%

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