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1 7 1 point The present value of a 1 1 - year annuity is $ 4 1 , 0 0 0 . The first

17

1

point

The present value of a

11 -

year annuity is $

41, 000 .

The first annual cash flow occurs one year from today. If the discount rate is

6.1 %,

what is the payment amount?

Enter your answer as a positive number, and round to the nearest penny.

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