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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