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7. Consider a deferred annuity with 17 annual payments of $10 starting at time t=4 and ending at t=20. Find the current value of this

7. Consider a deferred annuity with 17 annual payments of $10 starting at time t=4 and ending at t=20. Find the current value of this annuity at time 14 given an effective annual rate of interest of 3%

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