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1. What is the present value of $150 received at the beginning of each year for 16 years? The first payment is received today. Use

1. What is the present value of $150 received at the beginning of each year for 16 years? The first payment is received today. Use a discount rate of 9%.

2. What is the present value of $250 received at the beginning of each year for 21 years? Assume that the first payment is received today. Use a discount rate of 12%

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