Question: Financial Mathematics question, please use formulas and handwritten work rather than excel (picture provided). Will rate kindly. Megan purchases a perpetuity-immediate for 3250 with annual

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

Megan purchases a perpetuity-immediate for 3250 with annual payments of 130. At the same price and interest rate, Chris purchases an annuity- immediate with 20 annual payments that begin at amount P and increase by 15 each year thereafter. Calculate P. (A) 90 (B) 116 (C) 131 (D) 176 (E) 239

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