Question: Please show work (not in excel): An annuity is structured so that you will receive yearly payments with the first payment to be received 5

Please show work (not in excel):

Please show work (not in excel): An annuity is structured so that

An annuity is structured so that you will receive yearly payments with the first payment to be received 5 years from today. The annuity consists of 4 payments of $900 followed by 7 payments of $400 and then payments of $700 continuing forever. Find the amount that you would have to pay today to receive this annuity if it has constant force of interest of 5%. Round your answer to 2 decimal places. 12240.14 x

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