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Business, 25.07.2020 20:01 lillian22

Mark receives 500,000 at his retirement. He invests 500,000−X in an annual payment 10 year annuity-immediate and X in an annual payment perpetuity-immediate. His total payments received per year during the first 10 years are twice as large as those received thereafter. The annual effective rate of interest is 6%. Calculate X.

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