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#3 What is the value today of a money machine that will pay $1,037.00 per year for 20.00 years? Assume the first payment is made

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#3 What is the value today of a money machine that will pay $1,037.00 per year for 20.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 8.00%. Submit Answer format: Currency: Round to: 2 decimal places unanswered not_submitted Attempts Remaining: 5 #4 What is the value today of a money machine that will pay $3,406.00 every six months for 14.00 years? Assume the first payment is made six months from today and the interest rate is 12.00%. Submit Answer format: Currency Round to: 2 decimal places

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