Question: Use formula to solve this problem (No Excel Please) I purchase an annuity immediate with monthly payments for 15 years. The payments are level during

Use formula to solve this problem (No Excel Please)

I purchase an annuity immediate with monthly payments for 15 years. The payments are level during the year but increase by 5% each year. The ha payment is 400 What werd be price of this antity if the AFIR4X7 A 1511.52 8.754212 0.75051.27 D74002.01 E The answer does not appear here

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