also put 5.56 but its being marked as incorrect

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A:

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A: The answer has been mentioned below.

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A:

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Q: he answer 52.90 came up

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A:

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Q: Where does 4.0312, 2.9931, and 3.5431 came from? Can you explain?

A: 4.0312,2.9931 and 3.5431 are PV of annuity factors. To determine the equivalent annual saving(EAS,…