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A 5-year annuity pays $100 per month. The interest rate is 7 percent compounded monthly for the first three years and 8 percent compounded monthly

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A 5-year annuity pays $100 per month. The interest rate is 7 percent compounded monthly for the first three years and 8 percent compounded monthly for the next two. What is the present value of this annuity if it is an Annuity Due? 5,291 5,063 4,421 5,590 5,032

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