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2. (Related to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,500 per year for 10 years discounted back

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2. (Related to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,500 per year for 10 years discounted back to the present at 11 percent? The present value of $3,500 per year for 10 years discounted back to the present at 11 percent is $ (Round to the nearest cent.)

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