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1. What is the value today of a money machine that will pay $3,599.00 every six months for 17.00 years? Assume the first payment is

1. What is the value today of a money machine that will pay $3,599.00 every six months for 17.00 years? Assume the first payment is made six months from today and the interest rate is 15.00%.

2. What is the value today of a money machine that will pay $4,277.00 every six months for 13.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 9.00%.

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