A three-year annuity of twelve $5,000 quarterly payments will begin 2.75 years from now (i.e., the first
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A three-year annuity of twelve $5,000 quarterly payments will begin 2.75 years from now (i.e., the first payment will be 2.75 years from now). If the discount rate is 8 percent compounded monthly, what is the current value of this annuity?
a. $43,285
b. $52,833
c. $55,017
d. $60,000
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