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Business, 28.07.2019 17:30 jaidalynkimora

Graham receives $640,000 at his retirement. he invests x in a twenty-year annuityimmediate with annual payments and the remaining $640, 000 − x is used to purchase a perpetuity-immediate with annual payments. his total annual payments received during the first twenty years are twice as large as those received thereafter. the annual effective interest rate is 5%. find x.

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