Assume an effective annual interest rate of 1268, Financial Management

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Assume an effective annual interest rate of 1268

For 100000, Smith purchases a 36-payment annuity-immediate with monthly payments. Assume an effective annual interest rate of 12.68 percentage and find the unknown amount X if the first payment is X and each subsequent payment is 2 percentage smaller than the previous one.

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Financial Management: Assume an effective annual interest rate of 1268

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Financial Management: Assume an effective annual interest rate of 1268

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