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A 20-year annuity pays 100 every other year beginning at the end of the second year, with additional payments of 300 each at the ends

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A 20-year annuity pays 100 every other year beginning at the end of the second year, with additional payments of 300 each at the ends of years 3, 9 and 15. The effective annual interest rate is 4 percent. Calculate the present value of the annuity. 1,310 1,340 1,370 1,400 1,430

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