An annuity pays 8100 dollars on January 1 of each year, starting on January 1, 2000. If 21 payments are made and the effective rate of interest is 7 percent, what is the present value of the annuity on January 1, 1999? Present Value dollars.

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A: Solution:-

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A: solution:   Given : An annuity-immediate which pays 1 at the end of each half-year for five years,…

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Q: present

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A: Solution of the problem as follows

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.