You are given:
(i) X is the current value at time 2 of a 20year annuitydue of $1 per annum.
(ii) The annual effective interest rate for year t is (1/(8+t)).
Find X.
https://archive.org/details/theoryofinterest00kell/page/63/mode/1up?view=theater good reference if u need formulas for annuities
Markgvanzalk
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Kav10
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