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4) Determine the present value at time 0 of payments of $10,000 at time 1 year, $9950 at 2 years, $9900 at 3 years,

4) Determine the present value at time 0 of payments of $10,000 at time 1 year, $9950 at 2 years, $9900 at 3 years, and so on, down to the last payment at time 10 years. The annual effective interest rate is 5%.

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