Pelin buys annuities with lifetime payments per term. This is 1,000 TL paid for the...
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Pelin buys annuities with lifetime payments per term. This is 1,000 TL paid for the first 5 years. The payment amount of the annuity then increases to 2,000 TL. If the annual effective interest rate is 8%, what is the present value of the annuity?
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