Question: Sam has a 1 1 year annuity due making annual payments that grow geometrically at the rate of 3 . 2 5 0 % .

Sam has a 11 year annuity due making annual payments that grow geometrically at the rate of 3.250%. The first payment is $8,500.00 and the interest rate is i(12)=2.000%$. What is the present value of his annuity?

  

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