Q6: An annuity due pays an initial benefit of 1 per year, with the benefit increasing...

 

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Q6: An annuity due pays an initial benefit of 1 per year, with the benefit increasing by 10.25% every four years. The annuity is payable for 40 annual payments. Using an annual effective rate of 2%, calculate the future value of this annuity. A) 42 B)69 C)83 D) 59 E) 93 Q6: An annuity due pays an initial benefit of 1 per year, with the benefit increasing by 10.25% every four years. The annuity is payable for 40 annual payments. Using an annual effective rate of 2%, calculate the future value of this annuity. A) 42 B)69 C)83 D) 59 E) 93

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