Question: Financial Mathematics question, please use formulas and handwritten work rather than excel (picture provided). The present value of a series of 50 payments starting at

Financial Mathematics question, please use formulas and handwritten work rather than excel (picture provided).

The present value of a series of 50 payments starting at 100 at the end of the first year and increasing by 1 each year thereafter is equal to X. The annual effective rate of interest is 9%. Calculate X. (A) 1165 (B) 1180 (C) 1195 (D) 1210 (E) 1225

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