Question: Write out all steps. No excel. Question 8.14 The present value of a 6 -year annuity is X. The annuity pays 5 at the end

Write out all steps. No excel.

Question 8.14 The present value of a 6 -year annuity is X. The annuity pays 5 at the end of the first month, 10 at the end of the second month, and for each month thereafter the payment increases by 5 . The annual nominal interest rate is 7% compounded quarterly. Calculate X. A 9,927.82 B 9,985.40 C 9,993.11 D 10,043.31 E 10,050.90

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