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5) 20 points. You have an ordinary annuity of monthly payments of $500 per month with interest of 5% compounded monthly over the period of

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5) 20 points. You have an ordinary annuity of monthly payments of $500 per month with interest of 5% compounded monthly over the period of one year. a) Find the present value of the annuity. b) Find the future value of the annuity. c) Assume the rate of interest stays the same and you still have an annuity of monthly payments . If the present value of the annuity is $2000, find the monthly payment

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