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7. You pay $1,000 each year into an ordinary annuity for 5 years at a rate of 8% real (compound) interest rate. What is the

7. You pay $1,000 each year into an ordinary annuity for 5 years at a rate of 8% real (compound) interest rate. What is the present value of the money of $5,000? [4pts] - [Use Table A-4]

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