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  3. please show me the steps (b) thomas invests $50

please show me the steps (b) Thomas invests $50,000 in a parcel...

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Finance

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(b) Thomas invests $50,000 in a parcel of land that is expected to increase in value by 12 percent per year for the next five years. He will take the proceeds and provide himself with a 10-year annuity. Assuming a 12 percent interest rate, how much will this annuity be? Use 3 decimal places for all answers. (4 marks)

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