Same present value

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Reference no: EM131012488

Two annuities have the same present value. The first annuity is a decreasing annual annuity. The first payment is $1050 and is due one year from today. Subsequent annual payments decrease by $150 per year. The second annuity provides payments of $x per month for 7 years. The first payments is due month from today. The interest rate for both annuities is 6% compounded monthly. Calculate X.

Reference no: EM131012488

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