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3. You will receive an annuity payment of $20,000 every quarter for 10 years. a. Calculate the present value of the assuming a 4.0% discount

3. You will receive an annuity payment of $20,000 every quarter for 10 years. a. Calculate the present value of the assuming a 4.0% discount rate. b. How will your answer change if the first payment (same number of payments 40) is received in exactly one years from today?

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