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(1 point) Mary is to receive an annuity with 11 annual payments. The first payment of $ 1,000 is due immediately and each successive payment

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(1 point) Mary is to receive an annuity with 11 annual payments. The first payment of $ 1,000 is due immediately and each successive payment is 7 % less than the payment for the preceding year. Interest is 11 % compounded annually. Determine the present value of the annuity Present value of the annuity$

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