Question: Peter buys a 5-year increasing annuity tor X. He will receive 3 at the end of the first month, 6 at the end of the

Peter buys a 5-year increasing annuity tor X. He will receive 3 at the end of the first month, 6 at the end of the second month, and for each month thereafter the payment increases by 3. The nominal interest rate is 9% convertible quarterly. Calculate X

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