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Tom wants to start a new project. A project requires a start up cost of $11000...

Tom wants to start a new project. A project requires a start up cost of $11000 today and 20 annual cost of $4500 starting in one year. Starting at the end of the 21th year, the project returns 10 annual payments of $Y. Find Y so that the project yields an annual effective rate of 5% over the 30 years.

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ANSWER IN THE IMAGE ((YELLOW HIGHLIGHTED). FEEL FREE TO ASK ANY DOUBTS. THUMBS UP PLEASE.

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