Question: You are given the following information: a. The present value of a 12n-year annuity-immediate of 1 at the end of every year is 9.7578. b.

You are given the following information:

a. The present value of a 12n-year annuity-immediate of 1 at the end of every year is 9.7578.

b. The present value of a 12n-year annuity-immediate of 1 at the end of every second year is 4.760.

c. The present value of a 12n-year annuity-immediate of 1 at the end of every third year is K.

Determine K assuming an annual effective interest rate of i.

(Please do not solve with excel i need clear solutions)

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