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(1.)What is the value today of a money machine that will pay $8,704.00 per year for 35.00 years? Assume the first payment is made today
(1.)What is the value today of a money machine that will pay $8,704.00 per year for 35.00 years? Assume the first payment is made today and that there are 35.0 total payments. The interest rate is 5.00%.
(2.) Derek will deposit $429.00 per year for 17.00 years into an account that earns 11.00%. The first deposit is made today. How much will be in the account 17.0 years from today? Note that he makes 17.0 total deposits.
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