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3.Today, you begin to receive payments of equal amounts at the beginning of each year for 6 years (including the payment you receive today). Assume

3.Today, you begin to receive payments of equal amounts at the beginning of each year for 6 years (including the payment you receive today). Assume the appropriate discount rate is 7%. If the present value of this series of payments is $20,000, what must be the amount of each payment?

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