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6. A nancial instrument is made by combining a level annuity of K per year with increasing and decreasing monthly annuities as follows: Kaim +

Please show your answer step-by-step. The correct answer is A.

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5bb7d3582cd4a98f95bdc78d5c95f31.png

6. A financial instrument is made by combining a level annuity of K per year with
increasing and decreasing monthly annuities as follows: Kaiflm + 1000(Da)2?|4% -l— 3000(Ia)1—8I4% -l— 5000(Da)6—I4% If the maximum monthyl payment received over the life of this transaction is $75,000,
What is K? (a) $15,000 (b) $20,000 (0) $24,000 (d) —$6000
) (e $8000

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