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A deferred annuity of $400 per year begins in year 9 and ends in year 40. If the rate is 6%, what is the present

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A deferred annuity of $400 per year begins in year 9 and ends in year 40. If the rate is 6%, what is the present value of the deferred annuity? $3,298 $2,943 $4,008 $3,535 none of these

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