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kotegsom [21]
3 years ago
7

Jane receives a 10-year increasing annuity-immediate paying 100 the first year and increasing by 100 each year thereafter. Mary

receives a 10-year decreasing annuity-immediate paying X the first year and decreasing by X/10 each year thereafter. At an effective annual interest rate of 5%, both annuities have the same present value. Calculate X.
a. 860
b. 864
c. 868
d. 872
e. 876
Business
1 answer:
ss7ja [257]3 years ago
5 0

Answer:

b. 864

Explanation:

Jane; Pv = P.a 10? + Q[(a.10? - 10v^10)/i}]

Pv = 100(7.7217) + 100[(7.7217 - 6.1391)/0.05]

Pv = 3937.38

Mary; Pv = P.a 10? + Q[(a.10? - 10v^10)/i}]

Pv = x(7.7217) - (x/10)[(7.7217 - 6.1391)/0.05]

Pv = 7.7217x - (x/10)(31.6521) = 4.5565x

Equating Pv for both Jane and Mary

3937.38 = 4.5565x

x = 3937.38/4.5565 = 864.124

x = 864.124 = 864

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Morgarella [4.7K]

Correct/Complete Question:

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Answer:

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Explanation:

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Post-industrial societies are societies in which societal production is as a result of creation, processing and storage of information. Simply put, Post-industrial societies are societies in which service provision creates more wealth than manufacturing. This services are done through information creation, processing and storage as written above.

Cheers

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klemol [59]

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The following information related to the free market economy is:

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Therefore we can conclude that the free market economy is the one where the buyers & sellers should freely select to buy or make.

Learn more about the economy here: brainly.com/question/11905095

3 0
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3 0
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